Wells Fargo & Company Cuts Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $50.00

Arcturus Therapeutics (NASDAQ:ARCT) had its price target reduced by Wells Fargo & Company from $58.00 to $50.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other brokerages have also recently commented on ARCT. HC Wainwright reissued a “buy” rating and issued a $63.00 price target on shares of Arcturus Therapeutics in a research note on Friday, February 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, December 16th. Finally, BTIG Research began coverage on Arcturus Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $41.00 price target for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $61.40.

Arcturus Therapeutics Price Performance

NASDAQ:ARCT opened at $14.55 on Friday. Arcturus Therapeutics has a fifty-two week low of $14.11 and a fifty-two week high of $45.00. The stock’s 50-day moving average is $16.95 and its two-hundred day moving average is $18.59. The stock has a market cap of $394.12 million, a PE ratio of -6.55 and a beta of 2.96.

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

Institutional Investors Weigh In On Arcturus Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC lifted its holdings in Arcturus Therapeutics by 38.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 1,132 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Arcturus Therapeutics in the 4th quarter worth approximately $71,000. National Bank of Canada FI lifted its holdings in Arcturus Therapeutics by 639.6% in the 4th quarter. National Bank of Canada FI now owns 5,532 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 4,784 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Arcturus Therapeutics by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,694 shares of the biotechnology company’s stock worth $202,000 after purchasing an additional 846 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its holdings in Arcturus Therapeutics by 22.7% in the 4th quarter. Kennedy Capital Management LLC now owns 10,987 shares of the biotechnology company’s stock worth $186,000 after purchasing an additional 2,036 shares during the last quarter. 94.54% of the stock is currently owned by institutional investors and hedge funds.

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.