HC Wainwright Reiterates Buy Rating for Arcturus Therapeutics (NASDAQ:ARCT)

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $60.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 173.60% from the stock’s previous close.

Several other brokerages have also recently weighed in on ARCT. William Blair reiterated an “outperform” rating on shares of Arcturus Therapeutics in a research report on Thursday, May 23rd. Canaccord Genuity Group reduced their target price on Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Arcturus Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $64.86.

Arcturus Therapeutics Stock Performance

Shares of NASDAQ ARCT opened at $21.93 on Tuesday. The stock has a market cap of $590.57 million, a PE ratio of -5.61 and a beta of 2.65. Arcturus Therapeutics has a fifty-two week low of $17.52 and a fifty-two week high of $45.00. The stock has a fifty day moving average of $29.89 and a 200-day moving average of $32.50.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($1.00) earnings per share for the quarter, beating the consensus estimate of ($1.17) by $0.17. The company had revenue of $38.01 million during the quarter, compared to analysts’ expectations of $22.12 million. Arcturus Therapeutics had a negative return on equity of 37.61% and a negative net margin of 81.59%. On average, sell-side analysts predict that Arcturus Therapeutics will post -4.39 EPS for the current year.

Insider Buying and Selling

In other Arcturus Therapeutics news, COO Pad Chivukula sold 26,000 shares of Arcturus Therapeutics stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.01, for a total transaction of $1,040,260.00. Following the completion of the sale, the chief operating officer now owns 447,448 shares of the company’s stock, valued at $17,902,394.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 13.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcturus Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Boston Partners bought a new stake in Arcturus Therapeutics during the first quarter worth about $580,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Arcturus Therapeutics in the 1st quarter valued at about $517,000. Tidal Investments LLC bought a new stake in shares of Arcturus Therapeutics in the 1st quarter valued at about $232,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Arcturus Therapeutics by 111.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 95,924 shares of the biotechnology company’s stock valued at $3,239,000 after acquiring an additional 50,470 shares during the last quarter. Finally, Caxton Associates LP bought a new stake in shares of Arcturus Therapeutics in the 1st quarter valued at about $202,000. Institutional investors 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.