HC Wainwright Reaffirms “Buy” Rating for Arcturus Therapeutics (NASDAQ:ARCT)

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $63.00 price target on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 249.03% from the stock’s previous close.

Several other research firms have also recently commented on ARCT. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, December 16th. BTIG Research began coverage on Arcturus Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $41.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Arcturus Therapeutics currently has an average rating of “Buy” and a consensus price target of $65.00.

Arcturus Therapeutics Trading Up 10.0 %

Shares of Arcturus Therapeutics stock opened at $18.05 on Friday. The business’s 50 day simple moving average is $17.01 and its 200-day simple moving average is $18.95. The stock has a market capitalization of $488.97 million, a price-to-earnings ratio of -8.13 and a beta of 2.62. Arcturus Therapeutics has a twelve month low of $14.30 and a twelve month high of $45.00.

Institutional Trading of Arcturus Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in shares of Arcturus Therapeutics by 54.6% during the third quarter. Franklin Resources Inc. now owns 103,936 shares of the biotechnology company’s stock worth $2,412,000 after acquiring an additional 36,714 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Arcturus Therapeutics by 45.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company’s stock worth $52,819,000 after purchasing an additional 712,650 shares during the period. Empire Life Investments Inc. bought a new position in shares of Arcturus Therapeutics in the third quarter worth about $3,498,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Arcturus Therapeutics by 139.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 82,057 shares of the biotechnology company’s stock worth $1,393,000 after purchasing an additional 47,824 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Arcturus Therapeutics during the third quarter worth about $191,000. Institutional investors and hedge funds own 94.54% of the company’s stock.

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.