Arcturus Therapeutics price target raised to $40 from $35 at Citi

Citi raised the firm’s price target on Arcturus Therapeutics to $40 from $35 and keeps a Buy rating on the shares. The analyst says Arcturus provided a meaningful six-month update from the Japan Phase 3 trial for ARCT-154 at the International mRNA Health Conference on November 1, further supporting a “very favorable” durability profile relative to Comirnaty. The firm believes the approval decision for ARCT-154 anticipated in December will be an important catalyst for Arcturus. An approval would create a streamlined regulatory pathway for these future variant-specific vaccines in Japan, in addition to providing platform validation, the analyst tells investors in a research note.