Arcturus Therapeutics (NASDAQ:ARCT) Coverage Initiated at B. Riley Financial

Stock analysts at B. Riley Financial initiated coverage on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a report released on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $22.00 price target on the biotechnology company’s stock. B. Riley Financial’s target price indicates a potential upside of 227.38% from the company’s previous close.

A number of other brokerages have also recently commented on ARCT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcturus Therapeutics in a report on Wednesday, January 21st. Roth Mkm assumed coverage on shares of Arcturus Therapeutics in a research note on Thursday, January 22nd. They set a “buy” rating and a $20.00 price target on the stock. Wall Street Zen lowered Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Piper Sandler decreased their target price on Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Finally, Citigroup lowered their target price on Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Arcturus Therapeutics Stock Performance

Shares of NASDAQ:ARCT opened at $6.72 on Wednesday. The stock has a market capitalization of $191.00 million, a price-to-earnings ratio of -2.82 and a beta of 2.40. The stock’s 50-day simple moving average is $7.42 and its two-hundred day simple moving average is $10.59. Arcturus Therapeutics has a 52-week low of $5.85 and a 52-week high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.11). Arcturus Therapeutics had a negative net margin of 80.19% and a negative return on equity of 29.13%. The firm had revenue of $7.20 million for the quarter, compared to the consensus estimate of $14.32 million. As a group, equities analysts forecast that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Institutional Trading of Arcturus Therapeutics

Institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in Arcturus Therapeutics by 51.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 738 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Arcturus Therapeutics by 163.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock valued at $54,000 after buying an additional 2,586 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Arcturus Therapeutics during the 4th quarter valued at approximately $64,000. Intech Investment Management LLC bought a new stake in shares of Arcturus Therapeutics during the fourth quarter valued at approximately $70,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Arcturus Therapeutics by 65.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 12,009 shares of the biotechnology company’s stock valued at $73,000 after buying an additional 4,737 shares during the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus’s approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.

The company’s pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.