Arcturus Therapeutics (ARCT – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Yigal Nochomovitz from Citi maintained a Buy rating on the stock and has a $44.00 price target.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors that highlight the potential upside for Arcturus Therapeutics. The company’s strategic decision to focus on mRNA therapeutics while discontinuing early-stage vaccine efforts with low return on investment visibility is seen as a smart move. This shift allows the company to concentrate resources on more promising areas, specifically targeting upcoming catalysts in the fields of Ornithine Transcarbamylase (OTC) deficiency and Cystic Fibrosis (CF) expected in mid-2025.
Nochomovitz notes that the OTC catalyst is perceived as lower risk due to the predictable response of biomarkers, which aligns with established biochemical processes. While the CF catalyst presents more variability, it holds transformative potential for Arcturus. With the stock trading slightly above cash and two significant pipeline catalysts on the horizon, Nochomovitz anticipates a substantial share price return, leading to a high-conviction Buy rating with a 90-day upside watch.