Piper Sandler noted that Arcturus Therapeutics Holdings Inc’s (NASDAQ: ARCT) recently filed 10-K mentions funding of $25 million from a “pharmaceutical company” to run a clinical trial for LUNAR-COV19 vaccine candidate as a booster.
- According to analyst Yasmeen Rahimi, the investment either means that the undisclosed pharma company believes that ARCT-154 data will be positive or that they have already seen the data and decided to invest ahead of its disclosure.
- Either way, she believes that increased interest from “strategics” validates the LUNAR platform, and she has “high conviction” in a positive outcome for ARCT-154.
- Related: Arcturus Therapeutics’ COVID-19 Booster Clinical Trial Show Encouraging Neutralizing Antibody Responses.
- The analyst keeps an overweight rating and a $140 price target on Arcturus.
Piper Sandler is also “incrementally positive” on Argenx SE (NASDAQ: ARGX) after subcutaneously (SC) administered efgartigimod demonstrated noninferiority in total IgG reduction compared to IV route.
- Analyst Allison Bratzel notes that while bridging trials are not typically high-risk, the SC formulation is critical to uptake. There was some investor scrutiny on this catalyst.
- The analyst continues to like the setup for Argenx with the SC opportunity “now meaningfully de-risked.”
- She keeps an Overweight rating on the shares with a $375 price target.
- Price Action: ARCT shares are up 13.10% at $27.67, and ARGX stock is up 5.44% at $314.75 during the market session on the last check Tuesday.
- Photo by artisano via Pixabay
Latest Ratings for ARCT
|Mar 2022||Wells Fargo||Maintains||Overweight|
|Jan 2022||Raymond James||Upgrades||Underperform||Market Perform|
View More Analyst Ratings for ARCT
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