Arcturus Therapeutics (NASDAQ:ARCT) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Arcturus Therapeutics (NASDAQ:ARCT) from a hold rating to a buy rating in a research note released on Thursday morning, BidAskClub reports.

Several other research analysts also recently weighed in on the company. HC Wainwright restated a buy rating and set a $78.00 target price on shares of Arcturus Therapeutics in a research note on Tuesday, August 11th. ValuEngine upgraded Arcturus Therapeutics from a hold rating to a buy rating in a research note on Monday, August 3rd. Brookline Capital Management restated a buy rating on shares of Arcturus Therapeutics in a research note on Tuesday, August 11th. Piper Sandler initiated coverage on Arcturus Therapeutics in a research note on Tuesday, August 25th. They set an overweight rating and a $77.00 target price on the stock. Finally, Raymond James boosted their target price on Arcturus Therapeutics from $72.00 to $79.00 and gave the stock an outperform rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $55.00.

Shares of NASDAQ:ARCT opened at $46.89 on Thursday. Arcturus Therapeutics has a 12-month low of $8.51 and a 12-month high of $66.24. The business’s fifty day simple moving average is $49.42 and its 200-day simple moving average is $37.38.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its earnings results on Monday, August 10th. The biotechnology company reported ($0.55) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.02). Arcturus Therapeutics had a negative return on equity of 409.05% and a negative net margin of 341.76%. The business had revenue of $2.32 million for the quarter, compared to analysts’ expectations of $5.08 million. On average, equities research analysts forecast that Arcturus Therapeutics will post -2.13 EPS for the current year.

In other Arcturus Therapeutics news, COO Pad Chivukula sold 10,000 shares of Arcturus Therapeutics stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $45.16, for a total transaction of $451,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.20% of the company’s stock.

Several hedge funds have recently modified their holdings of ARCT. Vanguard Group Inc. lifted its holdings in shares of Arcturus Therapeutics by 506.6% in the 2nd quarter. Vanguard Group Inc. now owns 870,935 shares of the biotechnology company’s stock valued at $40,708,000 after buying an additional 727,354 shares during the period. Federated Hermes Inc. acquired a new position in shares of Arcturus Therapeutics in the 2nd quarter valued at about $28,747,000. Cormorant Asset Management LP lifted its holdings in shares of Arcturus Therapeutics by 205.3% in the 2nd quarter. Cormorant Asset Management LP now owns 800,000 shares of the biotechnology company’s stock valued at $37,392,000 after buying an additional 537,963 shares during the period. FMR LLC lifted its holdings in shares of Arcturus Therapeutics by 68.8% in the 2nd quarter. FMR LLC now owns 675,000 shares of the biotechnology company’s stock valued at $31,550,000 after buying an additional 275,000 shares during the period. Finally, Orbimed Advisors LLC acquired a new position in shares of Arcturus Therapeutics in the 2nd quarter valued at about $11,180,000. 53.12% of the stock is owned by institutional investors and hedge funds.

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.

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