Arcturus Therapeutics price target raised to $62 from $26 at H.C. Wainwright

H.C. Wainwright analyst Ed Arce raised the firm’s price target on Arcturus Therapeutics to $62 from $26 and keeps a Buy rating on the shares following the company’s “impressive” preclinical data for its COVID-19 vaccine, which is expected to enter the clinic this summer. The stock closed Monday up 35%, or $7.96, to $30.53. The analyst added the company’s LUNAR-COV19 to his model. While there are over 75 different COVID-19 vaccines now in play, several of which are in clinical testing and slightly ahead of Arcturus’ vaccine, LUNAR-COV19 has “strong prospects as likely the best-in-class mRNA vaccine,” Arce tells investors in a research note. The Layton estimates the risk-adjusted per share value of LUNAR-COV19 at $38.61, assuming a 25% probability of success and $2.46B peak sales in 2023.