William Blair analyst Myles Minter has maintained their bullish stance on ARCT stock, giving a Buy rating on May 28.
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Myles Minter has given his Buy rating due to a combination of factors that highlight Arcturus Therapeutics’ promising future. The company is poised for significant growth by 2025, as it plans to expand its focus from vaccines to rare disease therapeutics. This strategic shift is supported by upcoming Phase II data for treatments targeting OTC deficiency and cystic fibrosis, which are expected to be released in the second quarter and mid-2025, respectively.
Furthermore, Arcturus is in a strong financial position, with funding secured through 2028, which is crucial in the current volatile biotech market. The company’s innovative LUNAR LNP delivery platform sets it apart from competitors, potentially addressing safety concerns associated with inhaled mRNA therapeutics. Additionally, the ongoing regulatory approvals for its Covid-19 vaccine, Kostaive, across various regions, including anticipated filings in the U.K. and U.S., further bolster the company’s growth prospects.
In another report released on May 28, Scotiabank also initiated coverage with a Buy rating on the stock with a $32.00 price target.