Guggenheim analyst Seamus Fernandez lowered the firm’s price target on Arcturus Therapeutics (ARCT) to $45 from $71 and keeps a Buy rating on the shares. Although flat year-over-year sales in Japan alone support a $33 price target with no contribution from the recent EMA approval, the firm is now updating its model to heavily risk-adjust potential U.S. Kostaive sales and milestones, the analyst tells investors.
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