H.C. Wainwright downgraded Arcturus Therapeutics (ARCT) to Neutral from Buy with a price target of $12, down from $60. The firm does not believe the company’s cystic fibrosis program is worth progressing towards later stage clinical trials based on key opinion leader conversations regarding the interim Phase 2 ARCT-032 data. Arcturus would be better positioned to instead invest in early stage assets, the analyst tells investors in a research note.
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