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

Arcturus Therapeutics (NASDAQ:ARCT) had its target price cut by equities research analysts at HC Wainwright from $63.00 to $60.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 321.94% from the stock’s current price.

Other research analysts have also issued research reports about the company. BTIG Research started coverage on Arcturus Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $41.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Friday. Finally, Wells Fargo & Company lowered their price target on Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Friday. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $61.40.

Arcturus Therapeutics Stock Down 11.0 %

ARCT traded down $1.75 during trading on Friday, reaching $14.22. The company’s stock had a trading volume of 327,334 shares, compared to its average volume of 410,329. The firm has a fifty day simple moving average of $17.00 and a two-hundred day simple moving average of $18.64. The company has a market cap of $385.18 million, a price-to-earnings ratio of -6.36 and a beta of 2.62. Arcturus Therapeutics has a 1 year low of $14.30 and a 1 year high of $45.00.

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

Institutional Investors Weigh In On Arcturus Therapeutics

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