Canaccord Genuity just kicked off its coverage on Arcturus Therapeutics Holdings Inc ARCT, a major player in the genetic medicine sector.
Analysts Whitney Ijem and Joohwan Kim are thrilled about the company’s proprietary and groundbreaking LNP delivery tech (LUNAR) and innovative mRNA cargos (UNA, saRNA), which offer a wide range of potential applications. This has led to a diverse pipeline of medicines targeting various indications.
Of particular interest to Canaccord Genuity is ARCT-032, Arcturus’ inhaled mRNA therapeutic candidate for cystic fibrosis (CF).
Despite all the buzz surrounding Arcturus, ARCT-032 has quietly made its way through Phase 1 and is now being administered to CF patients in Phase 1b.
The initial interim data from this trial is slated to be released in the first half of 2024. A positive outcome holds the potential to significantly impact the valuation of this program due to its significance and relevance in addressing unmet medical needs in the field.
The analyst has set a bullish Buy rating and a price target of $81, indicating an upside of over 200%.
Arcturus is also making progress with another rare disease program, ARCT-810, designed to treat ornithine transcarbamylase (OTC) deficiency. The company is currently in the process of enrolling participants for a Phase 2 trial, and preliminary data is expected next year.
Most recently, CSL Ltd CSLLY and Arcturus announced that Japan’s Ministry of Health, Labor and Welfare approved ARCT-154, a self-amplifying mRNA COVID-19 vaccine for initial vaccination and booster for adults 18 years and older.
While this may not catch the attention of individuals focused on rare diseases or genetic medicine, Canaccord notes that the potential economic ramifications of these developments are substantial.
Price Action: On the last check Wednesday, ARCT shares were up 4.07% at $24.29.
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