Arcturus Therapeutics (NASDAQ:ARCT) Given New $68.00 Price Target at Canaccord Genuity Group

Arcturus Therapeutics (NASDAQ:ARCT) had its price objective trimmed by Canaccord Genuity Group from $74.00 to $68.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

A number of other brokerages also recently commented on ARCT. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research report on Friday. BTIG Research set a $48.00 target price on Arcturus Therapeutics and gave the company a “buy” rating in a report on Monday. HC Wainwright cut their price target on Arcturus Therapeutics from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company lowered their price objective on Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Arcturus Therapeutics presently has an average rating of “Buy” and a consensus target price of $59.20.

Arcturus Therapeutics Price Performance

ARCT opened at $14.29 on Monday. The business has a fifty day moving average price of $16.91 and a 200 day moving average price of $18.50. Arcturus Therapeutics has a 12 month low of $13.58 and a 12 month high of $45.00. The stock has a market capitalization of $387.07 million, a price-to-earnings ratio of -6.44 and a beta of 2.96.

Arcturus Therapeutics (NASDAQ:ARCT) last announced 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). Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The company had revenue of $22.77 million during the quarter, compared to analysts’ expectations of $44.64 million. On average, research analysts anticipate that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Institutional Trading of Arcturus Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in Arcturus Therapeutics during the 3rd quarter worth approximately $544,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings 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 valued at $52,819,000 after acquiring an additional 712,650 shares during the period. Royce & Associates LP grew its position in shares of Arcturus Therapeutics by 18.3% during the third quarter. Royce & Associates LP now owns 155,803 shares of the biotechnology company’s stock worth $3,616,000 after acquiring an additional 24,085 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Arcturus Therapeutics by 437.1% in the 3rd quarter. Quest Partners LLC now owns 19,810 shares of the biotechnology company’s stock valued at $460,000 after acquiring an additional 16,122 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Arcturus Therapeutics by 28.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 48,957 shares of the biotechnology company’s stock valued at $1,136,000 after purchasing an additional 10,728 shares during the last quarter. 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.