Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a research note issued to investors on Monday. They currently have a $7.00 price objective on the biotechnology company’s stock. Chardan Capital’s price objective suggests a potential upside of 23.89% from the stock’s previous close.
The analysts wrote, “We believe that Arrowhead is positioned to achieve a number of significant milestones in 2018. The Company spent most of 2017 quietly regrouping following its announcement in November 2016 that it was discontinuing all of its clinical RNAi programs (ARC-520, ARC-521, and ARC-AAT), which use its dynamic polyconjugate (DPC) delivery technology. The decision to discontinue development of these programs was based on the substantial delays that would have occurred in order to further explore the cause of deaths in a non-clinical toxicology study in non-human primates. Arrowhead subsequently reduced its workforce by approximately 30%. In September 2017, the Company unveiled its new proprietary delivery technology they call Targeted RNAi Molecule (TRiM), along with a portfolio of newly named candidates. Arrowhead’s TRiM delivery technology leverages advances in RNA chemistry and targeting, to deliver a payload with increased potency.””
A number of other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Arrowhead Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 14th. B. Riley increased their target price on shares of Arrowhead Pharmaceuticals from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Cantor Fitzgerald set a $5.00 target price on shares of Arrowhead Pharmaceuticals and gave the stock a “neutral” rating in a research report on Monday, February 12th. ValuEngine raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Piper Jaffray Companies raised shares of Arrowhead Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.50 target price for the company in a research report on Monday, November 27th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $4.70.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) opened at $5.65 on Monday. Arrowhead Pharmaceuticals has a one year low of $1.42 and a one year high of $6.75. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.03. The company has a market cap of $490.35, a PE ratio of -12.02 and a beta of 2.52.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Tuesday, December 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.02). The company had revenue of $8.71 million for the quarter, compared to analyst estimates of $7.32 million. Arrowhead Pharmaceuticals had a negative net margin of 116.17% and a negative return on equity of 42.52%. sell-side analysts forecast that Arrowhead Pharmaceuticals will post -0.66 earnings per share for the current year.
In related news, COO Bruce D. Given sold 20,000 shares of the stock in a transaction that occurred on Monday, January 1st. The shares were sold at an average price of $3.69, for a total transaction of $73,800.00. Following the completion of the sale, the chief operating officer now owns 948,356 shares of the company’s stock, valued at approximately $3,499,433.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Capital Wealth Advisors purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $119,000. Macquarie Group Ltd. purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $123,000. Jane Street Group LLC purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $130,000. Two Sigma Investments LP purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $146,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Arrowhead Pharmaceuticals by 297.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 173,078 shares of the biotechnology company’s stock worth $637,000 after acquiring an additional 129,488 shares during the period. Hedge funds and other institutional investors own 25.46% of the company’s stock.
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Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc, formerly Arrowhead Research Corporation, develops medicines that treat intractable diseases by silencing the genes that cause them. Using a portfolio of ribonucleic acid (RNA) chemistries and modes of delivery, the Company’s therapies trigger the RNA interference mechanism to induce knockdown of target genes.
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