HC Wainwright Lowers Price Target for Arcturus Therapeutics to $60.00

HC Wainwright, an equity research firm, has recently adjusted its price target for shares of Arcturus Therapeutics (NASDAQ:ARCT) from $63.00 to $60.00. This change was detailed in a research report released on Friday. Despite the reduction in price target, HC Wainwright has maintained a "buy" rating for the biotechnology company.

The new target price suggests a substantial potential upside of approximately 321.94% compared to the current price of the stock, indicating that analysts still see significant growth potential ahead for Arcturus Therapeutics.

Analyst Reports from Other Firms

In addition to HC Wainwright's recent report, other research firms have also commented on Arcturus Therapeutics. For instance, BTIG Research began covering the company on January 28, issuing a "buy" rating with a target price of $41.00. Likewise, Cantor Fitzgerald reaffirmed an "overweight" rating for the stock in their latest research note.

On the downside, Wells Fargo & Company has lowered its price target for Arcturus Therapeutics from $58.00 to $50.00, while keeping an "overweight" rating. Currently, there are seven investment analysts who have given the stock a buy rating, and one analyst has issued a strong buy rating. As per recent data, the consensus rating for Arcturus Therapeutics stock stands at "buy" with an average target price of around $61.40.

Current Stock Performance

On Friday, shares of Arcturus Therapeutics experienced a decline of 11.0%, trading down by $1.75 to reach a price of $14.22. The trading volume for the day was reported at 327,334 shares, which is lower than the average trading volume of 410,329 shares. The company’s stock has a fifty-day simple moving average of $17.00 and a two-hundred-day average of $18.64. Presently, Arcturus Therapeutics has a market capitalization of about $385.18 million, with a price-to-earnings ratio of -6.36 and a beta of 2.62. The stock's one-year range has fluctuated between a low of $14.30 and a high of $45.00.

Earnings Results and Forecasts

Arcturus Therapeutics last reported its earnings on March 6, showing a loss of ($1.11) per share for the quarter. This figure was considerably lower than the consensus estimate of ($0.33) by a margin of ($0.78). The total revenue recorded during the quarter was $22.77 million, which fell short of analyst expectations of $44.64 million. Analysts predict that Arcturus Therapeutics may report a loss of -$2.22 EPS for the current fiscal year.

Investors' Activity

Various institutional investors have recently changed their positions regarding Arcturus Therapeutics. For instance, Wellington Management Group LLP raised its stake by 0.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank also increased its stake by 10.8% in the third quarter, while Ameriprise Financial Inc. raised its holdings by 5.0% in the same period. Overall, hedge funds and other institutional investors control approximately 94.54% of the company's stock.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc is a biotechnology company focused on developing messenger RNA medicines and vaccines. Their primary focus is on creating vaccines for infectious diseases and products aimed at addressing rare liver and respiratory diseases. The company utilizes technology platforms such as LUNAR lipid-mediated delivery and STARR mRNA.

Price, Target, Stock, Analysts, Investors