ValuEngine cut shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) from a strong-buy rating to a buy rating in a research report report published on Thursday, ValuEngine reports.
Several other research analysts have also issued reports on ARWR. Cantor Fitzgerald lowered Arrowhead Pharmaceuticals from an overweight rating to a neutral rating and set a $24.00 target price on the stock. in a research report on Thursday, June 27th. BidaskClub upgraded Arrowhead Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, July 19th. B. Riley boosted their price target on Arrowhead Pharmaceuticals from $26.00 to $32.00 and gave the company a buy rating in a research note on Tuesday, May 28th. Piper Jaffray Companies boosted their price target on Arrowhead Pharmaceuticals from $25.00 to $33.00 and gave the company an overweight rating in a research note on Tuesday, April 16th. Finally, TheStreet upgraded Arrowhead Pharmaceuticals from a d rating to a c+ rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $27.50.
NASDAQ:ARWR traded down $0.41 during mid-day trading on Thursday, hitting $29.12. 729,612 shares of the company’s stock traded hands, compared to its average volume of 1,038,276. The stock has a fifty day moving average of $27.77. Arrowhead Pharmaceuticals has a twelve month low of $10.41 and a twelve month high of $30.73. The company has a market cap of $2.80 billion, a P/E ratio of -44.80 and a beta of 1.59.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Wednesday, May 8th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Arrowhead Pharmaceuticals had a return on equity of 6.72% and a net margin of 10.09%. The company had revenue of $48.15 million for the quarter, compared to analyst estimates of $45.78 million. On average, equities research analysts predict that Arrowhead Pharmaceuticals will post 0.71 earnings per share for the current year.
In other Arrowhead Pharmaceuticals news, General Counsel Patrick O’brien sold 30,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $24.88, for a total transaction of $746,400.00. Following the sale, the general counsel now owns 203,000 shares in the company, valued at approximately $5,050,640. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Allen Myszkowski sold 27,071 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $22.00, for a total value of $595,562.00. Following the sale, the chief financial officer now owns 278,536 shares in the company, valued at approximately $6,127,792. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,827 shares of company stock worth $1,832,205. Company insiders own 4.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ARWR. Sound Income Strategies LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the second quarter worth about $34,000. Mascoma Wealth Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the second quarter worth about $46,000. First Quadrant L P CA boosted its stake in shares of Arrowhead Pharmaceuticals by 831.4% in the first quarter. First Quadrant L P CA now owns 3,353 shares of the biotechnology company’s stock worth $62,000 after buying an additional 2,993 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Arrowhead Pharmaceuticals by 73.4% in the fourth quarter. Advisor Group Inc. now owns 8,670 shares of the biotechnology company’s stock worth $109,000 after buying an additional 3,670 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter worth about $130,000. Hedge funds and other institutional investors own 62.46% of the company’s stock.
Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.
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