BTIG Research Issues Pessimistic Forecast for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Key Points

• BTIG Research has significantly lowered its price target for Arcturus Therapeutics from $48.00 to $23.00, while maintaining a "buy" rating, suggesting a potential upside of 116.21% from the company's previous close.
• The stock has faced mixed ratings, with one analyst giving a "Strong Buy" rating, eight giving a "Buy," and a few other varying ratings indicating uncertainty regarding its performance.
• After a recent drop in share price, Arcturus Therapeutics has a market capitalization of $288.93 million and posted an earnings per share of ($0.34), significantly outperforming analysts' expectations.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) had its price target dropped by analysts at BTIG Research from $48.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the biotechnology company's stock. BTIG Research's target price indicates a potential upside of 116.21% from the company's previous close.

Several other analysts have also recently issued reports on ARCT. Wall Street Zen upgraded shares of Arcturus Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup reissued a "buy" rating on shares of Arcturus Therapeutics in a report on Friday, October 10th. Guggenheim lowered shares of Arcturus Therapeutics from a "buy" rating to a "neutral" rating in a report on Wednesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcturus Therapeutics in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Arcturus Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $47.00.

Arcturus Therapeutics Stock Performance

Shares of NASDAQ ARCT traded down $12.52 during trading on Wednesday, hitting $10.64. 12,077,346 shares of the company traded hands, compared to its average volume of 590,363. The business's fifty day moving average is $19.18 and its 200 day moving average is $14.74. Arcturus Therapeutics has a fifty-two week low of $8.04 and a fifty-two week high of $24.17. The firm has a market capitalization of $288.93 million, a price-to-earnings ratio of -4.77 and a beta of 2.39.

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

Hedge Funds Weigh In On Arcturus Therapeutics

Several large investors have recently added to or reduced their stakes in ARCT. Diversify Advisory Services LLC purchased a new position in Arcturus Therapeutics during the first quarter valued at approximately $191,000. Y Intercept Hong Kong Ltd purchased a new position in Arcturus Therapeutics during the first quarter valued at approximately $244,000. ARK Investment Management LLC lifted its holdings in Arcturus Therapeutics by 3.9% during the first quarter. ARK Investment Management LLC now owns 2,008,480 shares of the biotechnology company's stock valued at $21,270,000 after purchasing an additional 74,629 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Arcturus Therapeutics by 218.9% in the first quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company's stock worth $36,000 after buying an additional 2,329 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Arcturus Therapeutics in the first quarter worth $161,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.