B. Riley Financial Upgrades Arcturus Therapeutics (NASDAQ:ARCT) to “Strong-Buy”

Arcturus Therapeutics (NASDAQ:ARCT) was upgraded by B. Riley Financial to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

ARCT has been the subject of a number of other research reports. Wall Street Zen cut shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcturus Therapeutics in a research report on Wednesday, January 21st. Citigroup decreased their price objective on Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Roth Mkm started coverage on Arcturus Therapeutics in a research note on Thursday, January 22nd. They set a “buy” rating and a $20.00 target price on the stock. Finally, Piper Sandler reduced their target price on Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Arcturus Therapeutics Price Performance

ARCT opened at $6.72 on Tuesday. The firm has a market capitalization of $191.00 million, a PE ratio of -2.82 and a beta of 2.40. The business’s 50-day moving average is $7.42 and its two-hundred day moving average is $10.59. Arcturus Therapeutics has a 1 year low of $5.85 and a 1 year high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.11). Arcturus Therapeutics had a negative net margin of 80.19% and a negative return on equity of 29.13%. The firm had revenue of $7.20 million for the quarter, compared to analysts’ expectations of $14.32 million. As a group, sell-side analysts expect that Arcturus Therapeutics will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Aristides Capital LLC purchased a new stake in Arcturus Therapeutics in the fourth quarter valued at approximately $161,000. Invesco Ltd. raised its position in Arcturus Therapeutics by 59.9% during the 4th quarter. Invesco Ltd. now owns 103,116 shares of the biotechnology company’s stock worth $632,000 after buying an additional 38,626 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Arcturus Therapeutics during the 4th quarter valued at approximately $64,000. XTX Topco Ltd acquired a new stake in Arcturus Therapeutics during the 4th quarter valued at approximately $504,000. Finally, nVerses Capital LLC purchased a new stake in shares of Arcturus Therapeutics in the 4th quarter valued at $140,000. Institutional investors and hedge funds 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.