Piper Sandler Cuts Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $25.00

Arcturus Therapeutics (NASDAQ:ARCT) had its price objective lowered by investment analysts at Piper Sandler from $72.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target points to a potential upside of 216.06% from the company’s previous close.

ARCT has been the subject of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcturus Therapeutics in a research report on Wednesday, January 21st. Citigroup reduced their price objective on shares of Arcturus Therapeutics from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, January 6th. HC Wainwright lowered their price target on Arcturus Therapeutics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Roth Mkm assumed coverage on shares of Arcturus Therapeutics in a research report on Thursday, January 22nd. They set a “buy” rating and a $20.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.78.

Arcturus Therapeutics Stock Down 5.3%

NASDAQ:ARCT opened at $7.91 on Wednesday. The firm has a market capitalization of $224.72 million, a PE ratio of -3.22 and a beta of 2.40. Arcturus Therapeutics has a twelve month low of $5.85 and a twelve month high of $24.17. The stock’s 50-day simple moving average is $7.27 and its 200 day simple moving average is $11.38.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.11). The firm had revenue of $7.20 million for the quarter, compared to analyst estimates of $14.32 million. Arcturus Therapeutics had a negative net margin of 68.35% and a negative return on equity of 28.68%. On average, analysts anticipate that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Institutional Trading of Arcturus Therapeutics

Large investors have recently modified their holdings of the business. AQR Capital Management LLC purchased a new position in Arcturus Therapeutics during the 1st quarter valued at $128,000. Millennium Management LLC bought a new stake in Arcturus Therapeutics in the first quarter worth $4,892,000. Goldman Sachs Group Inc. grew its position in Arcturus Therapeutics by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company’s stock valued at $5,398,000 after purchasing an additional 42,636 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Arcturus Therapeutics during the first quarter valued at approximately $701,000. Finally, Strs Ohio bought a new stake in shares of Arcturus Therapeutics in the 1st quarter worth $89,000. 94.54% of the stock is owned by institutional investors.

Arcturus Therapeutics Company Profile

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.