2021-02-17 13:19:54 ARCT Arcturus Therapeutics
02/17/21 02/1713:19 02/17/2113:19 | B. Riley downgrades Arcturus to Sell, removes COVID-19 vaccine from modelAs previously reported, B. Riley Securities analyst Mayank Mamtani downgraded Arcturus Therapeutics to Sell from Neutral with a price target of $45, down from $77, after removing from the firm's model all revenue contributions pertaining to the company's COVID-19 vaccine candidate, ARCT-021, including product sales as well as non-dilutive funding largely attributed to ex-U.S. commercialization. Mamtani no longer sees the viability to commercialize Arcturus' COVID-19 vaccine candidate and expects the broader COVID vaccine market to "consolidate among the frontrunner C-19 vaccine makers," the analyst tells investors in a research note. |
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