Arcturus Therapeutics (NASDAQ:ARCT) Releases Earnings Results, Beats Estimates By $1.06 EPS

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) posted its quarterly earnings results on Monday. The biotechnology company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($1.58) by $1.06, Zacks reports. The firm had revenue of $29.38 million during the quarter, compared to the consensus estimate of $25.64 million. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%.

Arcturus Therapeutics Trading Up 0.1%

Shares of ARCT traded up $0.01 during trading hours on Friday, reaching $11.65. 335,735 shares of the stock traded hands, compared to its average volume of 451,782. Arcturus Therapeutics has a 52 week low of $8.04 and a 52 week high of $45.00. The company has a market cap of $315.96 million, a price-to-earnings ratio of -5.25 and a beta of 2.36. The stock has a fifty day simple moving average of $11.54 and a 200 day simple moving average of $15.19.

Institutional Investors Weigh In On Arcturus Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of Arcturus Therapeutics by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company's stock valued at $5,398,000 after acquiring an additional 42,636 shares in the last quarter. Millennium Management LLC bought a new stake in Arcturus Therapeutics during the first quarter worth $4,892,000. Finally, AQR Capital Management LLC purchased a new position in Arcturus Therapeutics in the first quarter worth $128,000. Hedge funds and other institutional investors own 94.54% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ARCT shares. BTIG Research set a $48.00 target price on Arcturus Therapeutics and gave the company a "buy" rating in a research report on Monday, March 10th. Wells Fargo & Company lowered their target price on Arcturus Therapeutics from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday. Cantor Fitzgerald reissued an "overweight" rating on shares of Arcturus Therapeutics in a research report on Friday, March 7th. Canaccord Genuity Group lowered their price objective on shares of Arcturus Therapeutics from $68.00 to $66.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Citigroup reiterated a "buy" rating on shares of Arcturus Therapeutics in a report on Tuesday. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Arcturus Therapeutics presently has an average rating of "Buy" and a consensus price target of $57.80.

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.