William Blair analyst Myles Minter has reiterated their bullish stance on ARCT stock, giving a Buy rating today.
Myles Minter has given his Buy rating due to a combination of factors surrounding Arcturus Therapeutics. One significant reason is the promising financial performance from the Kostaive COVID-19 sa-mRNA vaccine, which has shown substantial revenue generation in its initial launch phase in Japan. Arcturus’s share of the revenue, despite being part of a three-way split, indicates strong sales potential, with total sales estimated to exceed $100 million. This financial performance is further bolstered by the prospect of Arcturus receiving 40% of net profits from the vaccine sales once their share of development and marketing costs is covered.
Another factor contributing to the Buy rating is the progress in Arcturus’s cystic fibrosis program. The ongoing Phase II trial for ARCT-032, targeting patients unresponsive to CFTR modulator therapies, is on track with initial data expected in the second quarter of 2025. The flexibility in patient enrollment and dosing schemes suggests a strategic approach to clinical development, which could lead to significant advancements in treatment options for cystic fibrosis. These elements combined reflect a positive outlook for Arcturus Therapeutics, justifying the Buy rating.
According to TipRanks, Minter is a 4-star analyst with an average return of 6.3% and a 46.71% success rate. Minter covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Verve Therapeutics, and Entrada Therapeutics Inc.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $140.00 price target.