Arcturus Therapeutics (NASDAQ:ARCT) Given New $20.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has cut its price target for Arcturus Therapeutics from $42.00 to $20.00, although they maintain an "overweight" rating on the stock.
• The average rating for Arcturus Therapeutics remains a "Moderate Buy" with a consensus price target of $38.57, despite multiple revisions from other analysts.
• Arcturus Therapeutics reported better-than-expected earnings of ($0.34) per share, significantly outperforming analysts' estimates of ($1.11).

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) had its price target cut by equities research analysts at Wells Fargo & Company from $42.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the biotechnology company's stock. Wells Fargo & Company's target price points to a potential upside of 79.47% from the company's current price.

A number of other analysts also recently weighed in on the stock. Leerink Partners reduced their target price on shares of Arcturus Therapeutics from $63.00 to $54.00 and set an "outperform" rating on the stock in a research report on Friday, August 22nd. Guggenheim downgraded shares of Arcturus Therapeutics from a "buy" rating to a "neutral" rating in a research report on Wednesday. Zacks Research upgraded shares of Arcturus Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Wall Street Zen upgraded shares of Arcturus Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, BTIG Research dropped their price target on shares of Arcturus Therapeutics from $48.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Arcturus Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $38.57.

Arcturus Therapeutics Trading Down 3.4%

Shares of Arcturus Therapeutics stock opened at $11.14 on Thursday. The company's fifty day simple moving average is $19.03 and its two-hundred day simple moving average is $14.72. The company has a market cap of $302.67 million, a P/E ratio of -5.10 and a beta of 2.39. Arcturus Therapeutics has a 12-month low of $8.04 and a 12-month high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last released its earnings results on Monday, August 11th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($1.11) by $0.77. The firm had revenue of $28.30 million for the quarter, compared to the consensus estimate of $17.64 million. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. Analysts predict that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

Several institutional investors have recently made changes to their positions in ARCT. Millennium Management LLC bought a new position in shares of Arcturus Therapeutics in the 1st quarter worth approximately $4,892,000. Vestal Point Capital LP bought a new position in shares of Arcturus Therapeutics in the 1st quarter worth approximately $2,243,000. Diversify Advisory Services LLC lifted its stake in shares of Arcturus Therapeutics by 1,136.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 222,500 shares of the biotechnology company's stock worth $2,895,000 after purchasing an additional 204,500 shares during the period. ARK Investment Management LLC increased its holdings in Arcturus Therapeutics by 3.9% in the 1st quarter. ARK Investment Management LLC now owns 2,008,480 shares of the biotechnology company's stock worth $21,270,000 after acquiring an additional 74,629 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Arcturus Therapeutics in the 1st quarter worth approximately $701,000. Institutional investors own 94.54% of the company's stock.

Arcturus Therapeutics Company Profile

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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