S&P Equity Research restated their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note released on Tuesday, November 26th, AnalystRatings.com reports.
A number of other brokerages have also recently weighed in on ARWR. B. Riley upped their price target on Arrowhead Pharmaceuticals from $46.00 to $59.00 and gave the company a buy rating in a research report on Wednesday, November 13th. Piper Jaffray Companies reissued an overweight rating and set a $72.00 price objective (up from $54.00) on shares of Arrowhead Pharmaceuticals in a report on Tuesday, November 26th. Cantor Fitzgerald restated a neutral rating and issued a $50.00 target price (up previously from $24.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, November 19th. ValuEngine cut shares of Arrowhead Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird upgraded Arrowhead Pharmaceuticals from a neutral rating to an outperform rating and increased their price target for the stock from $39.00 to $70.00 in a research report on Monday, November 25th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Arrowhead Pharmaceuticals presently has an average rating of Buy and a consensus price target of $71.20.
NASDAQ:ARWR traded down $1.03 during mid-day trading on Tuesday, reaching $65.43. The stock had a trading volume of 773,288 shares, compared to its average volume of 1,774,133. The business has a 50 day simple moving average of $47.10 and a 200 day simple moving average of $33.10. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 94.82 and a beta of 1.98. Arrowhead Pharmaceuticals has a twelve month low of $10.41 and a twelve month high of $73.72.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Monday, November 25th. The biotechnology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The business had revenue of $43.29 million during the quarter, compared to analyst estimates of $36.97 million. Arrowhead Pharmaceuticals had a net margin of 40.27% and a return on equity of 32.30%. On average, equities research analysts forecast that Arrowhead Pharmaceuticals will post -0.29 earnings per share for the current year.
In related news, Director Michael S. Perry sold 100,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.90, for a total value of $2,890,000.00. Following the sale, the director now owns 121,000 shares of the company’s stock, valued at approximately $3,496,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael S. Perry sold 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $30.00, for a total value of $2,550,000.00. Following the completion of the transaction, the director now owns 121,000 shares in the company, valued at approximately $3,630,000. The disclosure for this sale can be found here. Insiders sold a total of 388,071 shares of company stock worth $13,408,443 over the last three months. 4.80% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its position in Arrowhead Pharmaceuticals by 96.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 500 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at approximately $34,000. Sound Income Strategies LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at approximately $34,000. Mascoma Wealth Management LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the second quarter valued at $46,000. Finally, Moneta Group Investment Advisors LLC bought a new stake in Arrowhead Pharmaceuticals in the second quarter worth $368,000. 68.75% of the stock is currently owned by hedge funds and other institutional investors.
About Arrowhead Pharmaceuticals
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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