Arcturus Therapeutics (NASDAQ:ARCT) Upgraded by Roth Mkm to Strong-Buy Rating

Roth Mkm upgraded shares of Arcturus Therapeutics (NASDAQ:ARCT) to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

Several other brokerages have also recently issued reports on ARCT. Guggenheim cut Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company lowered their price objective on shares of Arcturus Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. BTIG Research dropped their price objective on shares of Arcturus Therapeutics from $48.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 22nd. Zacks Research cut shares of Arcturus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcturus Therapeutics in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Arcturus Therapeutics Trading Down 0.8%

NASDAQ:ARCT opened at $7.53 on Thursday. Arcturus Therapeutics has a 12 month low of $5.85 and a 12 month high of $24.17. The company has a market cap of $213.93 million, a PE ratio of -3.06 and a beta of 2.24. The company has a 50 day simple moving average of $6.81 and a two-hundred day simple moving average of $12.61.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings results on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.60. Arcturus Therapeutics had a negative return on equity of 28.68% and a negative net margin of 68.35%.The firm had revenue of $17.15 million for the quarter, compared to the consensus estimate of $17.47 million. Research analysts forecast that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Hedge Funds Weigh In On Arcturus Therapeutics

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in shares of Arcturus Therapeutics in the first quarter worth approximately $128,000. Millennium Management LLC bought a new position in Arcturus Therapeutics in the 1st quarter worth $4,892,000. Goldman Sachs Group Inc. boosted its holdings in Arcturus Therapeutics by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company’s stock worth $5,398,000 after buying an additional 42,636 shares during the period. Acadian Asset Management LLC purchased a new stake in Arcturus Therapeutics in the 1st quarter worth $701,000. Finally, Strs Ohio bought a new stake in Arcturus Therapeutics during the first quarter valued at about $89,000. Hedge funds and other institutional investors own 94.54% of the company’s stock.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus’s approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.

The company’s pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.