Arcturus Therapeutics (NASDAQ:ARCT) Given New $72.00 Price Target at Piper Sandler
Piper Sandler has lowered its price target for Arcturus Therapeutics (NASDAQ:ARCT) from $140.00 to $72.00, maintaining an "overweight" rating. Other analysts have also downgraded the stock, with a consensus rating of "Moderate Buy" and a target price of $36.38. The stock traded down to $8.72, with a market cap of $236.66 million. Arcturus reported a quarterly EPS of ($0.49), beating estimates, but had a negative net margin of 49.26%. Institutional investors hold 94.54% of the stock.
Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) had its price target decreased by stock analysts at Piper Sandler from $140.00 to $72.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the biotechnology company's stock.
A number of other equities research analysts have also recently weighed in on the company. Wall Street Zen cut Arcturus Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, October 25th. Zacks Research downgraded Arcturus Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 24th. Guggenheim cut Arcturus Therapeutics from a "buy" rating to a "neutral" rating in a research note on Wednesday, October 22nd. Leerink Partners lowered their price target on Arcturus Therapeutics from $63.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. Finally, Wells Fargo & Company reduced their price objective on shares of Arcturus Therapeutics from $42.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, October 23rd. Seven research 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.38.
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Arcturus Therapeutics Price Performance
Shares of ARCT stock traded down $0.07 on Tuesday, hitting $8.72. 253,196 shares of the stock traded hands, compared to its average volume of 676,359. The company's fifty day moving average is $16.92 and its 200 day moving average is $14.74. Arcturus Therapeutics has a 1-year low of $7.93 and a 1-year high of $24.17. The company has a market capitalization of $236.66 million, a PE ratio of -3.91 and a beta of 2.47.
Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last released its earnings results on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.60. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. The firm had revenue of $17.15 million during the quarter, compared to analyst estimates of $17.47 million. As a group, equities research analysts expect that Arcturus Therapeutics will post -2.22 EPS for the current year.
Institutional Investors Weigh In On Arcturus Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC acquired a new position in shares of Arcturus Therapeutics in the first quarter valued at $4,892,000. Vestal Point Capital LP bought a new position in shares of Arcturus Therapeutics during the 1st quarter worth about $2,243,000. Diversify Advisory Services LLC boosted its position in shares of Arcturus Therapeutics by 1,136.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 222,500 shares of the biotechnology company's stock valued at $2,895,000 after acquiring an additional 204,500 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Arcturus Therapeutics by 6.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,947,835 shares of the biotechnology company's stock valued at $35,899,000 after acquiring an additional 115,368 shares during the period. Finally, Vanguard Group Inc. raised its position in Arcturus Therapeutics by 4.2% in the third quarter. Vanguard Group Inc. now owns 1,885,605 shares of the biotechnology company's stock worth $34,752,000 after purchasing an additional 75,440 shares in the last quarter. 94.54% of the stock is owned by institutional investors and hedge funds.
Arcturus Therapeutics Company Profile
(Get Free Report)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.
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