Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective raised by equities research analysts at Jefferies Financial Group to $24.00 in a research report issued to clients and investors on Friday, September 14th, The Fly reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 74.42% from the company’s previous close.
Several other equities research analysts also recently weighed in on ARWR. Cantor Fitzgerald reiterated a “buy” rating and set a $13.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, May 30th. BidaskClub raised shares of Arrowhead Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. S&P Equity Research cut their price target on shares of Arrowhead Pharmaceuticals from $13.76 to $11.68 in a report on Monday, June 18th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $17.00 target price on shares of Arrowhead Pharmaceuticals in a report on Friday, June 29th. Finally, Chardan Capital increased their target price on shares of Arrowhead Pharmaceuticals from $9.50 to $16.00 and gave the company a “buy” rating in a report on Monday, July 2nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $21.36.
NASDAQ ARWR traded up $0.01 during trading hours on Friday, hitting $13.76. The company had a trading volume of 2,835,000 shares, compared to its average volume of 2,061,766. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.69 and a quick ratio of 8.69. Arrowhead Pharmaceuticals has a 1-year low of $3.01 and a 1-year high of $22.39. The company has a market capitalization of $1.69 billion, a PE ratio of -28.47 and a beta of 1.74.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.01. Arrowhead Pharmaceuticals had a negative net margin of 400.13% and a negative return on equity of 59.39%. The business had revenue of $0.73 million during the quarter, compared to the consensus estimate of $0.62 million. On average, research analysts expect that Arrowhead Pharmaceuticals will post -0.64 earnings per share for the current year.
In other news, CEO Christopher Richard Anzalone sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $14.45, for a total transaction of $1,445,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,868,789 shares of the company’s stock, valued at approximately $27,004,001.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kenneth Allen Myszkowski sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $19.34, for a total transaction of $870,300.00. Following the transaction, the chief financial officer now directly owns 335,815 shares of the company’s stock, valued at $6,494,662.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 309,834 shares of company stock valued at $4,697,151. 4.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ARWR. Rhumbline Advisers acquired a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at $1,142,000. United Services Automobile Association boosted its holdings in shares of Arrowhead Pharmaceuticals by 69.6% in the 2nd quarter. United Services Automobile Association now owns 19,043 shares of the biotechnology company’s stock valued at $259,000 after purchasing an additional 7,816 shares during the last quarter. Swiss National Bank acquired a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at $1,850,000. Janney Montgomery Scott LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 28.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 25,200 shares of the biotechnology company’s stock valued at $343,000 after purchasing an additional 5,650 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at $1,088,000. Hedge funds and other institutional investors own 58.77% of the company’s stock.
About Arrowhead Pharmaceuticals
Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. Its pre-clinical stage medicines include ARO-HBV to treat chronic hepatitis B virus infection; ARO-AAT for the treatment of liver disease associated with alpha-1 antitrypsin deficiency; ARO-APOC3 and ARO-ANG3 to treat hypertriglyceridemia; ARO-Lung1 for the treatment of an undisclosed pulmonary target; ARO-HIF2 to treat renal cell carcinoma; ARO-F12 for hereditary angioedema and thromboembolic disorders; and ARO-AMG1 for the treatment of an undisclosed genetically validated cardiovascular target.
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