ARCT - Arcturus Therapeutics upgraded to buy at Citi on CSL Seqirus collaboration

• Citi has upgraded Arcturus Therapeutics to buy from neutral saying that the company's recent strategic collaboration with CSL Sequirus validates its mRNA platform.
• The firm has a $35 price target (~61% upside based on Wednesday's close).
• Analyst Yigal Nochomovitz noted that "the deal economics appear highly competitive with landmark mRNA vaccine transactions (BNTX/PFE, CVAC/GSK) which puts ARCT;s self-amplifying mRNA platform on the global vaccine map."
• He added that Arcturus ( NASDAQ: ARCT ) has eliminated a financing overhang with the upfront and near-term development milestones as part of the arrangement.
• "Arcturus ( ARCT ) can now return to its founding roots in rare disease drugdevelopment with a favorable cash runway," Nochomovitz said.
• Seeking Alpha's Quant Rating views Arcturus ( ARCT ) as a hold with high marks for revisions and growth .

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