Arrowhead Pharmaceuticals (NASDAQ:ARWR) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday, January 16th, BidAskClub reports.
Other research analysts have also recently issued reports about the stock. B. Riley reiterated a “buy” rating and issued a $83.00 target price (up from $59.00) on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 27th. ValuEngine cut shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Robert W. Baird raised shares of Arrowhead Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $39.00 to $70.00 in a research report on Monday, November 25th. S&P Equity Research reissued a “buy” rating on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, November 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target (up previously from $24.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $61.14.
Shares of Arrowhead Pharmaceuticals stock opened at $41.91 on Thursday. The firm has a market capitalization of $4.26 billion, a P/E ratio of 60.74 and a beta of 1.97. The company’s 50 day moving average price is $58.14 and its two-hundred day moving average price is $42.94. Arrowhead Pharmaceuticals has a fifty-two week low of $12.72 and a fifty-two week high of $73.72.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Monday, November 25th. The biotechnology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). The firm had revenue of $43.29 million for the quarter, compared to analysts’ expectations of $36.97 million. Arrowhead Pharmaceuticals had a return on equity of 32.30% and a net margin of 40.27%. Research analysts expect that Arrowhead Pharmaceuticals will post -0.15 earnings per share for the current year.
In other news, General Counsel Patrick O’brien sold 14,625 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $60.12, for a total value of $879,255.00. Following the completion of the sale, the general counsel now owns 267,406 shares of the company’s stock, valued at approximately $16,076,448.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kenneth Allen Myszkowski sold 20,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $60.11, for a total transaction of $1,202,200.00. Following the sale, the chief financial officer now directly owns 403,592 shares of the company’s stock, valued at approximately $24,259,915.12. The disclosure for this sale can be found here. Insiders sold a total of 248,518 shares of company stock valued at $15,591,357 in the last ninety days. 4.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ARWR. Nisa Investment Advisors LLC raised its holdings in Arrowhead Pharmaceuticals by 96.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 500 shares in the last quarter. Global Retirement Partners LLC bought a new position in Arrowhead Pharmaceuticals in the 4th quarter worth $44,000. First Mercantile Trust Co. bought a new position in Arrowhead Pharmaceuticals in the 4th quarter worth $101,000. Evoke Wealth LLC bought a new position in Arrowhead Pharmaceuticals in the 3rd quarter worth $116,000. Finally, NEXT Financial Group Inc bought a new position in Arrowhead Pharmaceuticals in the 4th quarter worth $139,000. Institutional investors and hedge funds own 69.81% 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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