H.C. Wainwright analyst Ed Arce maintained a Buy rating on Arcturus Therapeutics (ARCT – Research Report) today and set a price target of $63.00.
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Ed Arce has given his Buy rating due to a combination of factors, primarily driven by the recent European Commission’s approval of Arcturus Therapeutics’ self-amplifying mRNA COVID-19 vaccine, Kostaive. This approval marks a significant milestone as it is the first vaccine of its kind to receive such authorization in the EU, thereby expanding its market reach across all EU member states and EEA countries.
Another critical aspect of Arce’s positive outlook is the compelling clinical data supporting Kostaive’s efficacy and safety profile, which includes a Phase 1/2/3 trial and a Phase 3 booster study showing superior immunogenicity compared to traditional mRNA vaccines. Looking forward, the anticipated BLA filing in the U.S. by the first half of 2025 could further enhance the company’s growth prospects. Additionally, Arce’s valuation model considers the risk-adjusted potential of Arcturus’ other pipeline products and platform technologies, contributing to a price target of $63 per share.
Arce covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics, Akero Therapeutics, and Acurx Pharmaceuticals. According to TipRanks, Arce has an average return of 18.6% and a 48.50% success rate on recommended stocks.
In another report released on January 31, Canaccord Genuity also maintained a Buy rating on the stock with a $74.00 price target.