Arcturus Therapeutics (NASDAQ:ARCT) Given New $66.00 Price Target at Canaccord Genuity Group

Arcturus Therapeutics (NASDAQ:ARCT) had its price target cut by analysts at Canaccord Genuity Group from $68.00 to $66.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 421.16% from the company’s previous close.

Several other research firms have also weighed in on ARCT. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Arcturus Therapeutics in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on shares of Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, BTIG Research set a $48.00 price objective on shares of Arcturus Therapeutics and gave the company a “buy” rating in a research note on Monday, March 10th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $58.80.

Arcturus Therapeutics Trading Up 9.3%

ARCT traded up $1.07 during trading hours on Tuesday, hitting $12.66. 159,150 shares of the company’s stock were exchanged, compared to its average volume of 449,286. Arcturus Therapeutics has a 12-month low of $8.04 and a 12-month high of $45.00. The firm has a 50 day moving average of $11.78 and a 200 day moving average of $15.38. The firm has a market cap of $343.46 million, a P/E ratio of -5.70 and a beta of 2.36.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.58) by $1.06. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The company had revenue of $29.38 million for the quarter, compared to the consensus estimate of $25.64 million. As a group, research analysts expect that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARCT. Wellington Management Group LLP increased its position in shares of Arcturus Therapeutics by 0.8% during the 4th quarter. Wellington Management Group LLP now owns 97,036 shares of the biotechnology company’s stock valued at $1,647,000 after purchasing an additional 742 shares during the period. Ameriprise Financial Inc. raised its stake in Arcturus Therapeutics by 5.0% during the 4th quarter. Ameriprise Financial Inc. now owns 18,613 shares of the biotechnology company’s stock valued at $316,000 after purchasing an additional 883 shares during the period. Virtus ETF Advisers LLC boosted its holdings in Arcturus Therapeutics by 38.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 1,132 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Arcturus Therapeutics by 9.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,693 shares of the biotechnology company’s stock worth $156,000 after purchasing an additional 1,232 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Arcturus Therapeutics by 7.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,018 shares of the biotechnology company’s stock worth $323,000 after purchasing an additional 1,279 shares in the last quarter. 94.54% of the stock is owned by institutional investors and hedge funds.

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.