Arcturus Therapeutics (NASDAQ:ARCT) Upgraded to “Strong-Buy” at B. Riley Financial

B. Riley Financial upgraded shares of Arcturus Therapeutics (NASDAQ:ARCT) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

ARCT has been the topic of a number of other research reports. Piper Sandler cut their price objective on shares of Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 4th. Roth Mkm started coverage on shares of Arcturus Therapeutics in a report on Thursday, January 22nd. They set a “buy” rating and a $20.00 price target on the stock. Citigroup reduced their price objective on shares of Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Wall Street Zen lowered Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcturus Therapeutics in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.50.

Arcturus Therapeutics Price Performance

Shares of ARCT stock opened at $6.72 on Tuesday. The company has a market cap of $191.00 million, a PE ratio of -2.82 and a beta of 2.40. Arcturus Therapeutics has a 1 year low of $5.85 and a 1 year high of $24.17. The stock’s 50 day simple moving average is $7.42 and its two-hundred day simple moving average is $10.59.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. raised its position in Arcturus Therapeutics by 51.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 738 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Arcturus Therapeutics by 163.4% in the second quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 2,586 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Arcturus Therapeutics in the fourth quarter worth about $64,000. Intech Investment Management LLC bought a new position in Arcturus Therapeutics during the 4th quarter worth about $70,000. Finally, CANADA LIFE ASSURANCE Co increased its position in Arcturus Therapeutics by 65.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 12,009 shares of the biotechnology company’s stock valued at $73,000 after purchasing an additional 4,737 shares during the period. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

About Arcturus Therapeutics

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.