In a report released yesterday, Whitney Ijem from Canaccord Genuity maintained a Buy rating on Arcturus Therapeutics, with a price target of $66.00.
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.
Whitney Ijem has given his Buy rating due to a combination of factors surrounding Arcturus Therapeutics. Despite the recent announcement from HHS about winding down mRNA vaccine development under BARDA, Arcturus’s ongoing contracts, such as the H5N1 program, are set to continue. This indicates a strategic decision to preserve prior investments, and importantly, the announcement does not impact other uses of mRNA technology, which suggests a focus on evolving beyond first-generation vaccines.
Moreover, Ijem emphasizes that the company’s potential should not be dismissed due to the broader sentiment around mRNA vaccines. Instead, attention is directed towards Arcturus’s upcoming data update in cystic fibrosis, which is anticipated to be a significant value driver. Additionally, the company’s self-amplifying RNA technology, which has shown promising results compared to existing solutions, further supports the positive outlook. These factors collectively underpin the Buy rating, highlighting the potential for future growth and innovation.