Arcturus Therapeutics' Lung Disease Candidate Triggers Bullish Rating, Analyst Sees Over 200% Upside
Portfolio Pulse from Vandana Singh
Canaccord Genuity initiated coverage on Arcturus Therapeutics Holdings Inc (NASDAQ:ARCT) with a bullish rating, citing the company's proprietary LNP delivery tech and mRNA cargos. They are particularly optimistic about ARCT-032, a cystic fibrosis treatment, which is in Phase 1b trials with interim data expected in H1 2024. A positive outcome could significantly revalue the program. Canaccord set a price target of $81, indicating over 200% upside. Arcturus is also advancing ARCT-810 for OTC deficiency, with Phase 2 trial enrollment underway. Additionally, ARCT-154, a COVID-19 vaccine developed with CSL Ltd (OTC:CSLLY), was approved in Japan. ARCT shares rose 4.07% to $24.29.
December 13, 2023 | 6:34 pm
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POSITIVE IMPACT
Canaccord Genuity initiated coverage on Arcturus with a Buy rating and a price target of $81, citing the potential of their cystic fibrosis treatment ARCT-032 and other programs. The stock rose 4.07% following the news.
The initiation of coverage by Canaccord Genuity with a bullish outlook and a high price target suggests strong confidence in Arcturus's pipeline, particularly ARCT-032. The positive analyst rating and the significant price target uplift are likely to attract investor interest and could lead to a short-term increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
CSL Ltd partnered with Arcturus on ARCT-154, a COVID-19 vaccine that was approved in Japan. This news could positively impact CSL's stock as it demonstrates progress in their collaborative efforts.
The approval of ARCT-154 in Japan is a positive development for CSL Ltd, reflecting the success of its partnership with Arcturus. This could lead to increased investor confidence in CSL's collaborative projects and potentially have a favorable impact on its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50