Canaccord Genuity analyst Whitney Ijem maintained a Buy rating on Arcturus Therapeutics (ARCT – Research Report) yesterday and set a price target of $68.00.
Whitney Ijem has given his Buy rating due to a combination of factors surrounding Arcturus Therapeutics’ promising developments and financial stability. The company is advancing its ARCT-032 program, which is in a Phase 2 trial for cystic fibrosis, showing potential efficacy with FEV1 improvements that could lead to a smaller pivotal trial if results exceed expectations. This progress, coupled with a strong cash position, provides a solid foundation for future growth.
Additionally, Arcturus has a significant partnership with CSL for the development of infectious disease vaccines, which includes substantial milestone payments that have not yet been fully recognized in the company’s financial outlook. The recent approval of Kostaive in the EU is expected to trigger further milestone payments, enhancing the company’s financial runway. These strategic partnerships and financial prospects contribute to the optimistic outlook and Buy rating from Whitney Ijem.
According to TipRanks, Ijem is a 4-star analyst with an average return of 9.4% and a 45.37% success rate. Ijem covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Rhythm Pharmaceuticals, and Vertex Pharmaceuticals.