Arcturus Therapeutics (NASDAQ:ARCT) Stock Rating Raised to “Strong-Buy” at Zacks Research

Arcturus Therapeutics (NASDAQ:ARCT) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research note on Thursday, September 24th. Citigroup raised Arcturus Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $8.00 to $20.00 in a research note on Thursday, September 24th. Wall Street Zen downgraded Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, October 4th. Roth Capital reissued a “buy” rating and set a $41.00 price target on shares of Arcturus Therapeutics in a research note on Wednesday, September 2nd. Finally, BTIG Research decreased their price target on Arcturus Therapeutics from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.29.

Arcturus Therapeutics Trading Down 3.1%

Shares of ARCT opened at $10.73 on Wednesday. The company’s fifty day simple moving average is $13.52 and its 200-day simple moving average is $9.55. The company has a market cap of $304.95 million, a P/E ratio of -3.24 and a beta of 2.48. Arcturus Therapeutics has a twelve month low of $5.50 and a twelve month high of $17.96.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings results on Friday, August 7th. The biotechnology company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.16. The firm had revenue of $2.96 million during the quarter, compared to analysts’ expectations of $3.11 million. Arcturus Therapeutics had a negative net margin of 317.62% and a negative return on equity of 46.54%. Analysts predict that Arcturus Therapeutics will post -3.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of institutional investors have recently modified their holdings of ARCT. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Arcturus Therapeutics by 12.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company’s stock worth $17,671,000 after acquiring an additional 262,347 shares during the period. Amova Asset Management Americas Inc. boosted its holdings in shares of Arcturus Therapeutics by 12.9% in the first quarter. Amova Asset Management Americas Inc. now owns 2,288,935 shares of the biotechnology company’s stock valued at $17,648,000 after purchasing an additional 262,347 shares during the period. BlackRock Inc. purchased a new stake in shares of Arcturus Therapeutics in the second quarter valued at approximately $17,566,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Arcturus Therapeutics by 23.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 346,207 shares of the biotechnology company’s stock valued at $2,327,000 after purchasing an additional 66,528 shares during the period. Finally, Heartland Advisors Inc. purchased a new stake in shares of Arcturus Therapeutics in the first quarter valued at approximately $1,976,000. 94.54% of the stock is owned by hedge funds and other institutional investors.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc is a biotechnology company headquartered in San Diego, California, focused on developing medicines based on messenger RNA (mRNA) and other RNA technologies. The company’s platform includes LUNAR, a lipid-mediated delivery system designed to transport nucleic acids into cells, as well as technologies for producing and administering mRNA and self-amplifying RNA.

The company’s development programs address infectious diseases and rare genetic disorders. Arcturus has developed KOSTAIVE, a self-amplifying mRNA COVID-19 vaccine known as ARCT-154, in collaboration with CSL.