Scotiabank Issues Positive Forecast for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Arcturus Therapeutics (NASDAQ:ARCT) had its price objective raised by Scotiabank from $32.00 to $35.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “sector outperform” rating on the biotechnology company’s stock. Scotiabank’s price target points to a potential upside of 156.69% from the stock’s previous close.

A number of other research firms have also recently commented on ARCT. Canaccord Genuity Group dropped their target price on shares of Arcturus Therapeutics from $68.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. BTIG Research set a $48.00 price objective on shares of Arcturus Therapeutics and gave the stock a “buy” rating in a research report on Monday, March 10th. Wells Fargo & Company cut their target price on shares of Arcturus Therapeutics from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Wall Street Zen upgraded shares of Arcturus Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcturus Therapeutics in a research note on Friday, March 7th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Arcturus Therapeutics currently has an average rating of “Buy” and an average target price of $54.00.

Arcturus Therapeutics Stock Up 0.1%

NASDAQ ARCT opened at $13.64 on Wednesday. The business has a fifty day moving average price of $12.45 and a two-hundred day moving average price of $13.99. The stock has a market capitalization of $369.78 million, a PE ratio of -5.39 and a beta of 2.27. Arcturus Therapeutics has a fifty-two week low of $8.04 and a fifty-two week high of $25.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.64 and a quick ratio of 5.64.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Monday, May 12th. The biotechnology company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($1.58) by $1.06. The company had revenue of $29.38 million during the quarter, compared to analysts’ expectations of $25.64 million. Arcturus Therapeutics had a negative return on equity of 27.41% and a negative net margin of 47.47%. Equities analysts expect that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Institutional Trading of Arcturus Therapeutics

Several hedge funds have recently bought and sold shares of ARCT. Deutsche Bank AG increased its holdings in Arcturus Therapeutics by 42.7% during the 4th quarter. Deutsche Bank AG now owns 24,768 shares of the biotechnology company’s stock worth $420,000 after purchasing an additional 7,417 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Arcturus Therapeutics by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 1,684,561 shares of the biotechnology company’s stock valued at $28,587,000 after buying an additional 107,635 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Arcturus Therapeutics by 3,482.9% during the first quarter. GAMMA Investing LLC now owns 5,231 shares of the biotechnology company’s stock valued at $550,000 after buying an additional 5,085 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Arcturus Therapeutics by 52.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,461 shares of the biotechnology company’s stock worth $241,000 after buying an additional 4,647 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Arcturus Therapeutics by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 554,984 shares of the biotechnology company’s stock valued at $9,421,000 after buying an additional 3,186 shares during the last quarter. Institutional investors and hedge funds own 94.54% of the company’s stock.

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.