Citi lowered the firm’s price target on Arcturus Therapeutics (ARCT) to $7 from $9 and keeps a Neutral rating on the shares. The firm sees opportunities in SMID-cap biotech heading into 2026 for commercial or near-commercial stage companies. As part of its 2026 outlook, Citi upgraded both Arvinas and Krystal Biotech while adding an “upside 90-day catalyst watch” on Olema Oncology.
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