On Tuesday, H.C. Wainwright maintained a Buy rating and a $63.00 stock price target on Arcturus Therapeutics (NASDAQ:), whose shares have surged over 12% in the past week according to InvestingPro data.
The firm’s endorsement follows Arcturus’ recent announcement that two Phase 2 multiple ascending dose studies for its mRNA therapeutic programs have begun dosing. With a market capitalization of approximately $517 million, Arcturus currently appears undervalued based on InvestingPro’s Fair Value analysis.
The studies are evaluating ARCT-032 for cystic fibrosis in a Phase 2 trial and ARCT-810 for ornithine transcarbamylase (OTC) deficiency in a Phase 2a study in the United States.
The “LunairCF” study, which is open-label and designed to administer ARCT-032 daily for 28 days, began dosing in December 2024. The trial, registered under NCT06747858, aims to treat patients with cystic fibrosis.
Concurrently, the Phase 2a study for ARCT-810, targeting patients with OTC deficiency, commenced dosing at a rate of 0.5 mg/kg. Participants in this study, identified with NCT06488313, are set to receive five intravenous infusions of ARCT-810 over a two-month period.
These ongoing studies complement a separate double-blind Phase 2 study of ARCT-810 across 14 sites in the European Union and the United Kingdom (TADAWUL:). This study, which has completed its dosing phase for eight patients at a 0.3 mg/kg dose level, is expected to release interim data in the first half of 2025.
InvestingPro data shows the company maintains strong liquidity with a current ratio of 4.76, while earning a “GOOD” overall Financial Health score. The primary focus of the study is on safety and tolerability, while secondary objectives include pharmacokinetics (PK) and assessments of urea cycle function and plasma ammonia levels.
H.C. Wainwright’s analyst highlighted the anticipation for early commercial results from Kostaive, Arcturus’ COVID-19 vaccine marketed in Japan by Meiji Seika Pharma, a subsidiary of Meiji Holdings (TSE:2269). However, the spotlight remains on the progress of Arcturus’ wholly-owned mRNA therapeutic programs, with interim data for both the ARCT-032 and ARCT-810 programs expected in the first half of 2025.
The affirmation of the Buy rating is based on these developments and the potential milestones ahead. For deeper insights into Arcturus’ financial health, valuation metrics, and additional ProTips, investors can access the comprehensive Pro Research Report available exclusively on InvestingPro.
In other recent news, Arcturus Therapeutics has been making significant strides in its operations. The company’s COVID-19 vaccine, zapomeran, has received a recommendation from the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP), a crucial step towards potential market authorization by the European Commission. This follows the successful approval and launch of the vaccine in Japan.
Arcturus also reported a net loss of $6.9 million for Q3 2024, an improvement from the previous year, with revenues totaling $41.7 million. Analysts from Canaccord Genuity have maintained a Buy rating on Arcturus shares and increased the price target to $74 from $72, highlighting the company’s robust financial health.
The company is also set to proceed with a clinical trial for its flu vaccine candidate, ARCT-2304, following approval from the FDA. Additionally, Arcturus plans to file a Biologics License Application for Kostaive in the U.S. in H1 2025. These recent developments indicate the company’s continuous progress in its various medical programs and its potential for significant growth in the coming year.
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