H.C. Wainwright Starts Arcturus Therapeutics (ARCT) at Buy

H.C. Wainwright analyst Andrew Fein initiates coverage on Arcturus Therapeutics (NASDAQ: ARCT) with a Buy rating and a price target of $60.00.

The analyst comments "Arcturus Therapeutics—Assuming Coverage with Buy and $60 PT; From CF to OTC deficiency, near-term readouts to redefine Arcturus. Arcturus Therapeutics is, in our view, a platform-validated mRNA innovator with near-term catalysts in rare disease that could materially re-rate the stock. Its proprietary LUNAR LNP chemistry, built on biodegradable thio-carbonate backbones, and exclusive mRNA purification technology enable tolerable repeat dosing and differentiated tissue targeting, positioning the platform for chronic use where first-generation systems have failed. In respiratory disease, ARCT-032 is the first inhaled, genotype-agnostic mRNA replacement therapy for cystic fibrosis, optimized for nebulization and epithelial cell uptake, with interim Phase 2 data in September 2025 expected to show FEV₁ and CFQ-R improvements in Class I patients who represent ~18% of the CF population unserved by modulators; safety is de-risked and efficacy of ≥3% FEV₁ would justify progression, while ≥5% could be transformative. In metabolic disease, ARCT-810 for OTC deficiency has shown glutamine normalization, ammonia control, and ureagenesis restoration to ≥50% of normal in Phase 2, a clinically meaningful threshold, with Phase 3 regulatory alignment expected in 1H26. These programs are complemented by partnered STARR sa-mRNA vaccines, validated by the approval of Kostaive in 31 countries with a U.S. BLA filing due in 3Q25, and supported by seasonal (ARCT-2138) and pandemic (ARCT-2304) flu candidates. Importantly, management has emphasized that ARCT-810 may be approvable on biomarker endpoints alone given the precision of newly developed ureagenesis assays, potentially accelerating the regulatory path. Meanwhile, the vaccine franchise continues to attract non-dilutive funding through BARDA and CSL, underscoring Arcturus’s role in pandemic preparedness while limiting cash burn. With ~$253M in cash extending runway into 2028, we see Arcturus as well positioned to deliver multiple clinical readouts over the next 12 months that could unlock significant value and further validate its differentiated mRNA platform. Hence, we assume coverage with a Buy rating and $60 PT."

For an analyst ratings summary and ratings history on Arcturus Therapeutics click here. For more ratings news on Arcturus Therapeutics click here.

Shares of Arcturus Therapeutics closed at $17.19 yesterday.

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