HC Wainwright Reiterates Buy Rating for Arcturus Therapeutics (NASDAQ:ARCT)

HC Wainwright reiterated their buy rating on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a research report released on Monday morning,Benzinga reports. HC Wainwright currently has a $63.00 price objective on the biotechnology company’s stock.

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, December 16th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Arcturus Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $66.75.

Arcturus Therapeutics Stock Performance

NASDAQ ARCT opened at $17.31 on Monday. The stock has a 50-day simple moving average of $17.61 and a two-hundred day simple moving average of $20.00. The firm has a market capitalization of $468.88 million, a P/E ratio of -7.80 and a beta of 2.63. Arcturus Therapeutics has a fifty-two week low of $14.30 and a fifty-two week high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.44. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. The firm had revenue of $41.67 million during the quarter, compared to analyst estimates of $49.16 million. During the same quarter in the previous year, the business earned ($0.61) EPS. As a group, analysts forecast that Arcturus Therapeutics will post -2.31 earnings per share for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

Several institutional investors have recently bought and sold shares of ARCT. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Arcturus Therapeutics by 45.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company’s stock worth $52,819,000 after buying an additional 712,650 shares during the last quarter. Millennium Management LLC boosted its holdings in Arcturus Therapeutics by 250.1% in the 2nd quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock worth $13,515,000 after buying an additional 396,505 shares during the last quarter. Empire Life Investments Inc. acquired a new stake in Arcturus Therapeutics in the 3rd quarter worth about $3,498,000. ARK Investment Management LLC boosted its holdings in shares of Arcturus Therapeutics by 6.9% during the 3rd quarter. ARK Investment Management LLC now owns 2,101,038 shares of the biotechnology company’s stock worth $48,765,000 after purchasing an additional 136,074 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in shares of Arcturus Therapeutics during the 3rd quarter worth approximately $1,744,000. 94.54% of the stock is currently owned by institutional investors and hedge funds.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc, a late-stage clinical messenger RNA medicines and vaccine company, focuses on the development of infectious disease vaccines and other products within liver and respiratory rare diseases. Its technology platforms include LUNAR lipid-mediated delivery and STARR mRNA.