William Blair analyst Myles Minter has maintained their bullish stance on ARCT stock, giving a Buy rating on May 6.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Myles Minter has given his Buy rating due to a combination of factors including Arcturus Therapeutics’ promising developments in their COVID-19 sa-mRNA vaccine, Kostaive, and their ongoing efforts in cystic fibrosis treatments. The company has received significant collaboration revenue from its partner CSL for the initial sales of Kostaive in the EU, marking a successful milestone in its vaccine rollout. This partnership, which includes a 40% revenue sharing agreement, positions Arcturus to benefit from future profits once development and marketing costs are covered.
Minter also highlights the potential of ARCT-032, Arcturus’s treatment for cystic fibrosis, which is currently in a Phase II trial. The trial targets patients who are non-amenable to existing CFTR modulator therapies, with initial data expected in mid-2025. The company’s strategic focus on these innovative therapeutics and the anticipated data readouts contribute to the positive outlook and the Buy rating for Arcturus Therapeutics.
Minter covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Arcturus Therapeutics, and Alnylam Pharma. According to TipRanks, Minter has an average return of 2.0% and a 39.90% success rate on recommended stocks.
In another report released on May 6, Canaccord Genuity also maintained a Buy rating on the stock with a $68.00 price target.