Scotiabank Issues Positive Forecast for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Arcturus Therapeutics (NASDAQ:ARCT - Free Report) had its target price hoisted by Scotiabank from $32.00 to $35.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a sector outperform rating on the biotechnology company's stock.

Several other research analysts have also weighed in on the company. Wells Fargo & Company lowered their price objective on Arcturus Therapeutics from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. BTIG Research set a $48.00 target price on Arcturus Therapeutics and gave the stock a "buy" rating in a research note on Monday, March 10th. Canaccord Genuity Group dropped their price target on Arcturus Therapeutics from $68.00 to $66.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Citigroup restated a "buy" rating on shares of Arcturus Therapeutics in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcturus Therapeutics in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Arcturus Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $54.00.

Arcturus Therapeutics Trading Up 0.1%

Shares of ARCT stock traded up $0.02 during trading hours on Wednesday, hitting $13.64. 172,653 shares of the company's stock traded hands, compared to its average volume of 421,236. The company has a quick ratio of 5.64, a current ratio of 5.64 and a debt-to-equity ratio of 0.06. Arcturus Therapeutics has a 12 month low of $8.04 and a 12 month high of $25.88. The stock has a market cap of $369.78 million, a PE ratio of -5.39 and a beta of 2.27. The stock's 50 day simple moving average is $12.47 and its 200 day simple moving average is $13.97.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last announced its earnings results on Monday, May 12th. The biotechnology company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($1.58) by $1.06. Arcturus Therapeutics had a negative return on equity of 27.41% and a negative net margin of 47.47%. The business had revenue of $29.38 million for the quarter, compared to analysts' expectations of $25.64 million. On average, sell-side analysts anticipate that Arcturus Therapeutics will post -2.22 EPS for the current year.

Institutional Trading of Arcturus Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ARCT. Wellington Management Group LLP increased its position in shares of Arcturus Therapeutics by 0.8% during the 4th quarter. Wellington Management Group LLP now owns 97,036 shares of the biotechnology company's stock valued at $1,647,000 after purchasing an additional 742 shares during the last quarter. Ameriprise Financial Inc. grew its position in Arcturus Therapeutics by 5.0% during the fourth quarter. Ameriprise Financial Inc. now owns 18,613 shares of the biotechnology company's stock valued at $316,000 after buying an additional 883 shares during the period. Tocqueville Asset Management L.P. grew its position in Arcturus Therapeutics by 4.5% during the first quarter. Tocqueville Asset Management L.P. now owns 23,400 shares of the biotechnology company's stock valued at $248,000 after buying an additional 1,000 shares during the period. Virtus ETF Advisers LLC increased its holdings in Arcturus Therapeutics by 38.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company's stock worth $69,000 after buying an additional 1,132 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Arcturus Therapeutics by 9.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,693 shares of the biotechnology company's stock worth $156,000 after acquiring an additional 1,232 shares during the period. 94.54% of the stock is owned by hedge funds and other institutional investors.

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.