Arcturus Therapeutics (NASDAQ:ARCT) Given New $66.00 Price Target at Canaccord Genuity Group

Arcturus Therapeutics (NASDAQ:ARCT) had its price target lowered by Canaccord Genuity Group from $68.00 to $66.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

ARCT has been the topic of several other research reports. BTIG Research set a $48.00 target price on Arcturus Therapeutics and gave the company a “buy” rating in a research report on Monday, March 10th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Arcturus Therapeutics in a research report on Thursday, April 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research report on Friday, March 7th. Finally, Wells Fargo & Company decreased their price objective on Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Arcturus Therapeutics currently has an average rating of “Buy” and a consensus price target of $57.80.

Arcturus Therapeutics Trading Up 7.4%

Shares of NASDAQ ARCT opened at $11.64 on Tuesday. The stock has a market capitalization of $315.69 million, a PE ratio of -5.24 and a beta of 2.36. The stock’s fifty day simple moving average is $11.57 and its two-hundred day simple moving average is $15.27. Arcturus Therapeutics has a 12-month low of $8.04 and a 12-month high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its earnings results on Monday, May 12th. The biotechnology company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.58) by $1.06. The business had revenue of $29.38 million for the quarter, compared to analysts’ expectations of $25.64 million. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. On average, equities analysts predict that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Arcturus Therapeutics by 0.8% during the 4th quarter. Wellington Management Group LLP now owns 97,036 shares of the biotechnology company’s stock valued at $1,647,000 after buying an additional 742 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Arcturus Therapeutics by 5.0% during the 4th quarter. Ameriprise Financial Inc. now owns 18,613 shares of the biotechnology company’s stock valued at $316,000 after acquiring an additional 883 shares during the period. Tocqueville Asset Management L.P. grew its position in shares of Arcturus Therapeutics by 4.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 23,400 shares of the biotechnology company’s stock valued at $248,000 after acquiring an additional 1,000 shares during the period. Virtus ETF Advisers LLC grew its position in shares of Arcturus Therapeutics by 38.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 1,132 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Arcturus Therapeutics by 9.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,693 shares of the biotechnology company’s stock valued at $156,000 after acquiring an additional 1,232 shares during the period. Hedge funds and other institutional investors own 94.54% of the company’s stock.

About Arcturus Therapeutics

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.