Arcturus Therapeutics price target raised to $60 from $51 at H.C. Wainwright

H.C. Wainwright analyst Ed Arce raised the firm’s price target on Arcturus Therapeutics to $60 from $51 and keeps a Buy rating on the shares after Arcturus announced Tuesday that Japan’s Ministry of Health, Labor and Welfare granted approval for ARCT-154, a self-amplifying mRNA COVID-19 vaccine as a primary immunization and as a booster for adults 18 years and older. The approval represents the first marketing approval milestone in the Global Collaboration and Licensing agreement signed by Arcturus and CSL in 2022, the analyst tells investors in a research note. The firm regards ARCT-154’s approval in Japan as a major milestone in its partnership with CSL and Meiji, and believes post-marketing data of ARCT-154 in Japan could serve as a key component in future discussions with other regulatory agencies.