Zacks Investment Research Upgrades Arcturus Therapeutics (NASDAQ:ARCT) to “Buy”

Zacks Investment Research upgraded shares of Arcturus Therapeutics (NASDAQ:ARCT) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Zacks.com reports. The firm currently has $13.00 price target on the biotechnology company’s stock.

According to Zacks, “Arcturus Therapeutics Ltd. is a preclinical-stage biopharmaceutical company. It focuses on the discovery, development and commercialization of RNA medicines using proprietary lipid-mediated delivery system LUNAR(TM) and UNA Oligomer chemistry technologies. Arcturus Therapeutics Ltd, formerly known as Alcobra Ltd, is based in San Diego, CA. “

ARCT has been the subject of several other research reports. ValuEngine downgraded shares of Arcturus Therapeutics from a sell rating to a strong sell rating in a research report on Wednesday, October 2nd. HC Wainwright set a $18.00 price objective on shares of Arcturus Therapeutics and gave the company a buy rating in a research report on Friday, August 16th. Finally, Brookline Capital Management reaffirmed a buy rating on shares of Arcturus Therapeutics in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Arcturus Therapeutics has an average rating of Buy and a consensus target price of $16.33.

NASDAQ:ARCT traded down $0.22 on Tuesday, reaching $9.83. The stock had a trading volume of 48,700 shares, compared to its average volume of 66,044. Arcturus Therapeutics has a 12-month low of $4.11 and a 12-month high of $15.50. The firm’s fifty day moving average is $10.83 and its two-hundred day moving average is $9.48. The company has a debt-to-equity ratio of 2.43, a current ratio of 2.51 and a quick ratio of 2.51. The company has a market cap of $155.46 million, a price-to-earnings ratio of -4.55 and a beta of 2.50.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its quarterly earnings data on Thursday, August 15th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.46. Arcturus Therapeutics had a negative net margin of 50.32% and a negative return on equity of 112.75%. The company had revenue of $10.15 million during the quarter, compared to the consensus estimate of $4.01 million. As a group, research analysts forecast that Arcturus Therapeutics will post -1.59 earnings per share for the current fiscal year.

In related news, Director Peter C. Farrell purchased 9,113 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average price of $10.94 per share, with a total value of $99,696.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph E. Payne purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were bought at an average cost of $11.22 per share, with a total value of $56,100.00. The disclosure for this purchase can be found here. Insiders acquired 26,413 shares of company stock valued at $289,130 in the last ninety days. 18.10% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ARCT. Dfpg Investments Inc. acquired a new stake in shares of Arcturus Therapeutics during the third quarter worth approximately $4,802,000. Highline Capital Management L.P. grew its position in shares of Arcturus Therapeutics by 356.6% during the second quarter. Highline Capital Management L.P. now owns 217,866 shares of the biotechnology company’s stock worth $2,057,000 after buying an additional 170,152 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Arcturus Therapeutics by 129.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 298,530 shares of the biotechnology company’s stock worth $3,066,000 after purchasing an additional 168,556 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Arcturus Therapeutics by 129.7% during the third quarter. Nikko Asset Management Americas Inc. now owns 298,530 shares of the biotechnology company’s stock worth $3,066,000 after purchasing an additional 168,556 shares during the last quarter. Finally, ARK Investment Management LLC lifted its stake in Arcturus Therapeutics by 8.3% during the second quarter. ARK Investment Management LLC now owns 1,004,368 shares of the biotechnology company’s stock worth $9,481,000 after purchasing an additional 77,224 shares during the last quarter. 17.45% of the stock is owned by institutional investors and hedge funds.

About Arcturus Therapeutics

Arcturus Therapeutics Ltd., an RNA medicines company, focuses on treatment of liver and respiratory diseases. The company's pipeline of RNA therapeutics include programs pursuing rare diseases, hepatitis B, non-alcoholic steatohepatitis, cystic fibrosis, and vaccines. The company owns LUNAR lipid-mediated delivery and Unlocked Nucleomonomer Agent (UNA) technology, including UNA Oligomers, which are covered by its patent portfolio, including 152 patents and patent applications issued in the United States, Europe, Japan, China, and internationally.

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