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

Arcturus Therapeutics (NASDAQ:ARCT) had its target price cut by HC Wainwright from $63.00 to $60.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 312.37% from the company’s current price.

ARCT has been the topic of several other research reports. BTIG Research began coverage on Arcturus Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $41.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a report on Friday. Finally, Wells Fargo & Company cut their price objective on Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday. Seven 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, Arcturus Therapeutics has a consensus rating of “Buy” and an average target price of $61.40.

Arcturus Therapeutics Trading Down 8.9 %

Shares of NASDAQ ARCT opened at $14.55 on Friday. Arcturus Therapeutics has a twelve month low of $14.11 and a twelve month high of $45.00. The company has a market capitalization of $394.12 million, a price-to-earnings ratio of -6.55 and a beta of 2.96. The firm has a 50-day moving average of $16.95 and a two-hundred day moving average of $18.57.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.78). The company had revenue of $22.77 million for the quarter, compared to analyst estimates of $44.64 million. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. As a group, research analysts predict that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in shares of 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 purchasing an additional 742 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Arcturus Therapeutics by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,694 shares of the biotechnology company’s stock worth $202,000 after buying an additional 846 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Arcturus Therapeutics by 5.0% in the fourth quarter. Ameriprise Financial Inc. now owns 18,613 shares of the biotechnology company’s stock worth $316,000 after buying an additional 883 shares during the last quarter. Virtus ETF Advisers LLC increased its holdings in Arcturus Therapeutics by 38.8% in the fourth 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 Arcturus Therapeutics by 7.2% in the fourth 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. Institutional investors and hedge funds own 94.54% of the company’s stock.

About Arcturus Therapeutics

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.