Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) Receives $59.20 Consensus Target Price from Brokerages

Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) have been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $59.20.

A number of research firms have recently weighed in on ARCT. Wells Fargo & Company dropped their price objective on Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. 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. Canaccord Genuity Group cut their target price on Arcturus Therapeutics from $74.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcturus Therapeutics in a report on Friday, March 7th. Finally, HC Wainwright cut their target price on shares of Arcturus Therapeutics from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, March 7th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARCT. Vanguard Group Inc. grew its stake in shares of Arcturus Therapeutics by 6.8% in the fourth quarter. Vanguard Group Inc. now owns 1,684,561 shares of the biotechnology company’s stock worth $28,587,000 after acquiring an additional 107,635 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in Arcturus Therapeutics by 129.7% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 849,081 shares of the biotechnology company’s stock worth $14,409,000 after buying an additional 479,482 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Arcturus Therapeutics by 3.5% during the fourth quarter. Woodline Partners LP now owns 806,912 shares of the biotechnology company’s stock valued at $13,693,000 after buying an additional 26,956 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Arcturus Therapeutics by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 554,984 shares of the biotechnology company’s stock valued at $9,421,000 after acquiring an additional 3,186 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Arcturus Therapeutics in the 4th quarter worth $9,312,000. Institutional investors own 94.54% of the company’s stock.

Arcturus Therapeutics Stock Down 3.9 %

ARCT opened at $9.11 on Friday. The business’s fifty day simple moving average is $14.89 and its 200 day simple moving average is $17.42. Arcturus Therapeutics has a 52 week low of $8.70 and a 52 week high of $45.00. The stock has a market cap of $247.06 million, a PE ratio of -4.10 and a beta of 3.41.

Arcturus Therapeutics (NASDAQ:ARCT) last released its earnings results on Thursday, March 6th. The biotechnology company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.78). Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The business had revenue of $22.77 million for the quarter, compared to the consensus estimate of $44.64 million. As a group, equities analysts anticipate that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

About Arcturus Therapeutics

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.