Zacks Investment Research Lowers Arcturus Therapeutics (NASDAQ:ARCT) to Hold

Zacks Investment Research lowered shares of Arcturus Therapeutics (NASDAQ:ARCT) from a strong-buy rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Arcturus Therapeutics Ltd. is a preclinical-stage biopharmaceutical company. It focuses on the discovery, development and commercialization of RNA medicines using proprietary lipid-mediated delivery system LUNAR(TM) and UNA Oligomer chemistry technologies. Arcturus Therapeutics Ltd, formerly known as Alcobra Ltd, is based in San Diego, CA. “

Several other analysts have also recently weighed in on ARCT. ValuEngine cut shares of Arcturus Therapeutics from a hold rating to a sell rating in a report on Thursday, August 1st. Brookline Capital Management reiterated a buy rating on shares of Arcturus Therapeutics in a report on Wednesday, July 24th. Chardan Capital set a $18.00 price target on shares of Arcturus Therapeutics and gave the company a buy rating in a report on Thursday, June 20th. Finally, HC Wainwright set a $18.00 price target on shares of Arcturus Therapeutics and gave the company a buy rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $16.00.

NASDAQ:ARCT opened at $10.90 on Tuesday. The stock has a market cap of $150.88 million, a P/E ratio of -5.05 and a beta of 2.36. The firm’s fifty day simple moving average is $10.51 and its 200 day simple moving average is $7.57. Arcturus Therapeutics has a twelve month low of $4.11 and a twelve month high of $15.50. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 2.43.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings results on Thursday, August 15th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.46. The business had revenue of $10.15 million for the quarter, compared to analysts’ expectations of $4.01 million. Arcturus Therapeutics had a negative net margin of 50.32% and a negative return on equity of 112.75%. On average, analysts expect that Arcturus Therapeutics will post -1.74 EPS for the current fiscal year.

In other Arcturus Therapeutics news, Director Peter C. Farrell bought 9,113 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average price of $10.94 per share, for a total transaction of $99,696.22. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.02% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Nikko Asset Management Americas Inc. bought a new stake in shares of Arcturus Therapeutics during the 1st quarter valued at $438,000. ARK Investment Management LLC boosted its holdings in shares of Arcturus Therapeutics by 13.7% during the 1st quarter. ARK Investment Management LLC now owns 927,144 shares of the biotechnology company’s stock valued at $6,332,000 after buying an additional 111,968 shares in the last quarter. Creative Planning bought a new stake in shares of Arcturus Therapeutics during the 1st quarter valued at $416,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Arcturus Therapeutics during the 2nd quarter valued at $1,227,000. Finally, BlackRock Inc. boosted its holdings in shares of Arcturus Therapeutics by 23.5% during the 2nd quarter. BlackRock Inc. now owns 23,548 shares of the biotechnology company’s stock valued at $222,000 after buying an additional 4,480 shares in the last quarter. Hedge funds and other institutional investors own 13.32% of the company’s stock.

About Arcturus Therapeutics

Arcturus Therapeutics Ltd., an RNA medicines company, focuses on treatment of liver and respiratory diseases. The company's pipeline of RNA therapeutics include programs pursuing rare diseases, hepatitis B, non-alcoholic steatohepatitis, cystic fibrosis, and vaccines. The company owns LUNAR lipid-mediated delivery and Unlocked Nucleomonomer Agent (UNA) technology, including UNA Oligomers, which are covered by its patent portfolio, including 152 patents and patent applications issued in the United States, Europe, Japan, China, and internationally.

Featured Article: What is the Difference Between Common Shares and Convertible Shares?

Get a free copy of the Zacks research report on Arcturus Therapeutics (ARCT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Arcturus Therapeutics (NASDAQ:ARCT)

Receive News & Ratings for Arcturus Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcturus Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.