Arcturus Therapeutics (NASDAQ:ARCT) Now Covered by Scotiabank

Stock analysts at Scotiabank initiated coverage on shares of Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) in a report released on Wednesday, MarketBeat reports. The firm set a "sector outperform" rating and a $32.00 price target on the biotechnology company's stock. Scotiabank's target price suggests a potential upside of 151.37% from the stock's previous close.

A number of other research analysts also recently commented on the stock. Canaccord Genuity Group decreased their price objective on shares of Arcturus Therapeutics from $68.00 to $66.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Citigroup restated a "buy" rating on shares of Arcturus Therapeutics in a research report on Tuesday, May 13th. Cantor Fitzgerald reissued an "overweight" rating on shares of Arcturus Therapeutics in a report on Friday, March 7th. Wall Street Zen upgraded shares of Arcturus Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $60.00 price target on shares of Arcturus Therapeutics in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Arcturus Therapeutics presently has an average rating of "Buy" and an average price target of $53.50.

Arcturus Therapeutics Price Performance

ARCT traded up $0.91 during mid-day trading on Wednesday, hitting $12.73. The stock had a trading volume of 432,258 shares, compared to its average volume of 446,958. Arcturus Therapeutics has a 1-year low of $8.04 and a 1-year high of $45.00. The stock's fifty day simple moving average is $11.30 and its 200-day simple moving average is $14.82. The firm has a market capitalization of $345.25 million, a price-to-earnings ratio of -5.73 and a beta of 2.36.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($1.58) by $1.06. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. The business had revenue of $29.38 million for the quarter, compared to analysts' expectations of $25.64 million. As a group, research analysts expect that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Arcturus Therapeutics by 45.0% in the fourth quarter. SG Americas Securities LLC now owns 11,940 shares of the biotechnology company's stock valued at $203,000 after buying an additional 3,705 shares during the period. Spire Wealth Management raised its stake in shares of Arcturus Therapeutics by 393.3% during the 4th quarter. Spire Wealth Management now owns 13,478 shares of the biotechnology company's stock worth $229,000 after purchasing an additional 10,746 shares during the period. Empire Life Investments Inc. increased its stake in shares of Arcturus Therapeutics by 85.5% during the 4th quarter. Empire Life Investments Inc. now owns 279,463 shares of the biotechnology company's stock worth $4,742,000 after purchasing an additional 128,771 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Arcturus Therapeutics by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 207,802 shares of the biotechnology company's stock worth $3,526,000 after purchasing an additional 10,180 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its stake in Arcturus Therapeutics by 42.7% in the fourth quarter. Tocqueville Asset Management L.P. now owns 22,400 shares of the biotechnology company's stock valued at $380,000 after purchasing an additional 6,700 shares during the last quarter. Institutional investors and hedge funds 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.