Canaccord Genuity Group Lowers Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $68.00

Arcturus Therapeutics (NASDAQ:ARCT) had its target price reduced by Canaccord Genuity Group from $74.00 to $68.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

ARCT has been the subject of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a report on Friday, March 7th. HC Wainwright decreased their price target on shares of Arcturus Therapeutics from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Wells Fargo & Company decreased their price target on shares of Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, BTIG Research set a $48.00 price target on shares of Arcturus Therapeutics and gave the stock a “buy” rating in a research note on Monday. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Arcturus Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $59.20.

Arcturus Therapeutics Stock Performance

Shares of ARCT stock opened at $14.26 on Monday. The stock has a market capitalization of $386.73 million, a P/E ratio of -6.42 and a beta of 2.96. The company has a 50 day moving average price of $16.78 and a 200 day moving average price of $18.41. Arcturus Therapeutics has a fifty-two week low of $12.75 and a fifty-two week high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.78). The business had revenue of $22.77 million during the quarter, compared to analyst estimates of $44.64 million. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. On average, research analysts forecast that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Institutional Trading of Arcturus Therapeutics

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in shares of Arcturus Therapeutics by 54.6% during the 3rd quarter. Franklin Resources Inc. now owns 103,936 shares of the biotechnology company’s stock worth $2,412,000 after buying an additional 36,714 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Arcturus Therapeutics by 45.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company’s stock worth $52,819,000 after buying an additional 712,650 shares during the last quarter. Empire Life Investments Inc. lifted its position in shares of Arcturus Therapeutics by 85.5% during the 4th quarter. Empire Life Investments Inc. now owns 279,463 shares of the biotechnology company’s stock worth $4,742,000 after buying an additional 128,771 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Arcturus Therapeutics by 139.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 82,057 shares of the biotechnology company’s stock worth $1,393,000 after buying an additional 47,824 shares during the last quarter. Finally, Spire Wealth Management lifted its position in shares of Arcturus Therapeutics by 393.3% during the 4th quarter. Spire Wealth Management now owns 13,478 shares of the biotechnology company’s stock worth $229,000 after buying an additional 10,746 shares during the last quarter. 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.