Wells Fargo & Company Issues Pessimistic Forecast for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Arcturus Therapeutics (NASDAQ:ARCT) had its price target decreased by analysts at Wells Fargo & Company from $50.00 to $45.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 286.60% from the stock’s current price.

A number of other research firms have also weighed in on ARCT. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Arcturus Therapeutics in a research note on Thursday, April 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research note on Friday, March 7th. BTIG Research set a $48.00 price target on Arcturus Therapeutics and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Canaccord Genuity Group decreased their price target on Arcturus Therapeutics from $68.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Arcturus Therapeutics has a consensus rating of “Buy” and an average target price of $57.80.

Arcturus Therapeutics Stock Performance

NASDAQ ARCT opened at $11.64 on Wednesday. The stock’s fifty day moving average is $11.57 and its two-hundred day moving average is $15.27. The firm has a market capitalization of $315.69 million, a P/E ratio of -5.24 and a beta of 2.36. Arcturus Therapeutics has a fifty-two week low of $8.04 and a fifty-two week high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.58) by $1.06. The company had revenue of $29.38 million for the quarter, compared to analyst estimates of $25.64 million. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. As a group, sell-side analysts forecast that Arcturus Therapeutics will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Vestal Point Capital LP purchased a new stake in shares of Arcturus Therapeutics in the 1st quarter valued at $2,243,000. AlphaQuest LLC raised its holdings in shares of Arcturus Therapeutics by 394.0% in the 1st quarter. AlphaQuest LLC now owns 35,282 shares of the biotechnology company’s stock valued at $374,000 after buying an additional 28,140 shares during the period. Tocqueville Asset Management L.P. raised its holdings in shares of Arcturus Therapeutics by 4.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 23,400 shares of the biotechnology company’s stock valued at $248,000 after buying an additional 1,000 shares during the period. American Century Companies Inc. raised its holdings in shares of Arcturus Therapeutics by 11.8% in the 1st quarter. American Century Companies Inc. now owns 52,563 shares of the biotechnology company’s stock valued at $557,000 after buying an additional 5,545 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Arcturus Therapeutics by 40,686.2% in the 1st quarter. Russell Investments Group Ltd. now owns 11,828 shares of the biotechnology company’s stock valued at $125,000 after buying an additional 11,799 shares during the period. Hedge funds and other 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.