HC Wainwright Cuts Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $60.00

Arcturus Therapeutics (NASDAQ:ARCT) had its price target cut by HC Wainwright from $63.00 to $60.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other brokerages have also commented on ARCT. BTIG Research initiated coverage on Arcturus Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $41.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research note on Friday. Finally, Wells Fargo & Company reduced their target price on Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $61.40.

Arcturus Therapeutics Price Performance

Shares of NASDAQ:ARCT opened at $14.55 on Friday. The business’s 50 day simple moving average is $16.95 and its 200-day simple moving average is $18.55. The firm has a market capitalization of $394.12 million, a price-to-earnings ratio of -6.55 and a beta of 2.96. Arcturus Therapeutics has a 12 month low of $14.11 and a 12 month high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.78). The firm had revenue of $22.77 million for the quarter, compared to analysts’ expectations of $44.64 million. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. On average, equities analysts anticipate that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in Arcturus Therapeutics by 0.8% in the 4th quarter. Wellington Management Group LLP now owns 97,036 shares of the biotechnology company’s stock valued at $1,647,000 after acquiring an additional 742 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Arcturus Therapeutics by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,694 shares of the biotechnology company’s stock valued at $202,000 after acquiring an additional 846 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Arcturus Therapeutics by 5.0% in the 4th quarter. Ameriprise Financial Inc. now owns 18,613 shares of the biotechnology company’s stock valued at $316,000 after acquiring an additional 883 shares during the last quarter. Virtus ETF Advisers LLC increased its holdings in shares of Arcturus Therapeutics by 38.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company’s stock worth $69,000 after buying an additional 1,132 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Arcturus Therapeutics by 7.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,018 shares of the biotechnology company’s stock worth $323,000 after buying an additional 1,279 shares during the last quarter. 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.