H.C. Wainwright analyst Ed Arce maintained a Buy rating on Arcturus Therapeutics (ARCT – Research Report) today and set a price target of $60.00.
Ed Arce has given his Buy rating due to a combination of factors including the promising development of Arcturus Therapeutics’ ARCT-2304 vaccine candidate. The FDA’s Fast Track designation for ARCT-2304, aimed at combating the influenza A H5N1 virus, highlights its potential in addressing a significant global health threat. This designation facilitates accelerated development and regulatory processes, which could lead to quicker market entry.
Moreover, Arcturus Therapeutics benefits from substantial financial backing from U.S. health agencies, ensuring continued progress in their vaccine development. The company’s innovative sa-mRNA technology, which allows for lower dosing and improved stability, further strengthens their position. Additionally, Arcturus has several upcoming milestones, including interim data from other promising candidates like ARCT-032 and ARCT-810, which contribute to the positive outlook and Buy rating.
According to TipRanks, Arce is a 5-star analyst with an average return of 9.4% and a 42.20% success rate. Arce covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics, Akebia Therapeutics, and Pliant Therapeutics.
In another report released today, Guggenheim also maintained a Buy rating on the stock with a $45.00 price target.