Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective lifted by Piper Jaffray Companies from $72.00 to $80.00 in a research report sent to investors on Monday, December 9th, The Fly reports. Piper Jaffray Companies currently has an overweight rating on the biotechnology company’s stock. Piper Jaffray Companies also issued estimates for Arrowhead Pharmaceuticals’ Q1 2020 earnings at ($0.09) EPS, Q2 2020 earnings at ($0.11) EPS, Q3 2020 earnings at ($0.11) EPS, Q4 2020 earnings at ($0.13) EPS, FY2020 earnings at ($0.45) EPS, Q1 2021 earnings at ($0.24) EPS, Q2 2021 earnings at ($0.26) EPS, Q3 2021 earnings at ($0.28) EPS, Q4 2021 earnings at ($0.30) EPS and FY2021 earnings at ($1.07) EPS.
A number of other analysts also recently issued reports on ARWR. Chardan Capital reaffirmed a buy rating and issued a $81.00 price objective (up previously from $45.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, November 29th. ValuEngine downgraded Arrowhead Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, October 2nd. BidaskClub raised Arrowhead Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Wednesday, October 9th. S&P Equity Research reaffirmed a buy rating on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, November 26th. Finally, Robert W. Baird raised Arrowhead Pharmaceuticals from a neutral rating to an outperform rating and lifted their price objective for the stock from $39.00 to $70.00 in a research note on Monday, November 25th. Three research 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. The stock has a consensus rating of Buy and an average target price of $72.80.
Shares of ARWR stock traded down $0.77 during trading hours on Monday, reaching $63.43. 1,205,315 shares of the company traded hands, compared to its average volume of 3,017,297. Arrowhead Pharmaceuticals has a 12-month low of $11.67 and a 12-month high of $73.72. The company has a market cap of $6.07 billion, a P/E ratio of 91.93 and a beta of 2.00. The firm has a 50-day moving average price of $61.71 and a 200 day moving average price of $38.75.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Monday, November 25th. The biotechnology company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.03). The company had revenue of $43.29 million for the quarter, compared to analysts’ expectations of $36.97 million. Arrowhead Pharmaceuticals had a net margin of 40.27% and a return on equity of 32.30%. Sell-side analysts expect that Arrowhead Pharmaceuticals will post -0.36 EPS for the current fiscal year.
In related news, CFO Kenneth Allen Myszkowski sold 37,884 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $40.85, for a total transaction of $1,547,561.40. Following the completion of the transaction, the chief financial officer now owns 351,420 shares in the company, valued at approximately $14,355,507. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher Richard Anzalone sold 56,325 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $31.83, for a total value of $1,792,824.75. Following the transaction, the chief executive officer now owns 2,178,228 shares of the company’s stock, valued at approximately $69,332,997.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,176 shares of company stock valued at $12,715,804. Company insiders own 4.80% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the 3rd quarter worth $275,000. Mason Street Advisors LLC raised its position in shares of Arrowhead Pharmaceuticals by 2.2% in the 3rd quarter. Mason Street Advisors LLC now owns 32,360 shares of the biotechnology company’s stock worth $912,000 after acquiring an additional 711 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Arrowhead Pharmaceuticals by 5.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 33,800 shares of the biotechnology company’s stock worth $952,000 after acquiring an additional 1,753 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Arrowhead Pharmaceuticals by 3.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 315,152 shares of the biotechnology company’s stock worth $9,083,000 after acquiring an additional 11,907 shares in the last quarter. Finally, Aperio Group LLC bought a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter worth $483,000. Institutional investors and hedge funds own 70.39% 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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