Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) has been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.90.
Several equities research analysts have recently weighed in on the stock. B. Riley increased their price objective on shares of Arrowhead Pharmaceuticals from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. TheStreet upgraded shares of Arrowhead Pharmaceuticals from a “d” rating to a “c+” rating in a research report on Thursday, May 30th. ValuEngine cut shares of Arrowhead Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald cut shares of Arrowhead Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research report on Thursday, June 27th. Finally, BidaskClub upgraded shares of Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, July 19th.
In related news, General Counsel Patrick O’brien sold 30,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $24.88, for a total transaction of $746,400.00. Following the transaction, the general counsel now directly owns 203,000 shares of the company’s stock, valued at $5,050,640. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth Allen Myszkowski sold 27,071 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $22.00, for a total transaction of $595,562.00. Following the transaction, the chief financial officer now directly owns 278,536 shares in the company, valued at $6,127,792. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,827 shares of company stock worth $1,832,205. 4.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Arrowhead Pharmaceuticals by 94.5% during the second quarter. BlackRock Inc. now owns 14,841,966 shares of the biotechnology company’s stock worth $393,313,000 after acquiring an additional 7,210,892 shares in the last quarter. Vanguard Group Inc. boosted its stake in Arrowhead Pharmaceuticals by 75.4% during the second quarter. Vanguard Group Inc. now owns 8,637,838 shares of the biotechnology company’s stock worth $228,903,000 after acquiring an additional 3,712,392 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Arrowhead Pharmaceuticals by 550.5% in the second quarter. Invesco Ltd. now owns 4,820,607 shares of the biotechnology company’s stock valued at $127,747,000 after buying an additional 4,079,523 shares in the last quarter. Vivo Capital LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 18.8% in the second quarter. Vivo Capital LLC now owns 2,765,153 shares of the biotechnology company’s stock valued at $73,277,000 after buying an additional 436,678 shares in the last quarter. Finally, Farallon Capital Management LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 4.1% in the second quarter. Farallon Capital Management LLC now owns 2,000,000 shares of the biotechnology company’s stock valued at $53,000,000 after buying an additional 79,391 shares in the last quarter. 62.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of ARWR traded up $2.01 during trading hours on Wednesday, hitting $31.19. 1,525,700 shares of the stock were exchanged, compared to its average volume of 1,131,404. Arrowhead Pharmaceuticals has a fifty-two week low of $10.41 and a fifty-two week high of $31.56. The business has a 50-day moving average of $28.34 and a 200-day moving average of $22.25. The firm has a market capitalization of $2.96 billion, a P/E ratio of -47.98 and a beta of 1.59.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.13). Arrowhead Pharmaceuticals had a return on equity of 26.27% and a net margin of 33.28%. The firm had revenue of $42.70 million for the quarter, compared to analyst estimates of $59.05 million. As a group, equities analysts anticipate that Arrowhead Pharmaceuticals will post 0.73 earnings per share for the current year.
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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