“We rate Arrowhead Pharmaceuticals Overweight. ARWR utilizes its proprietary TriM to develop targeted drugs based on the RNA interference mechanism that silences disease-causing genes. The company is focused on its subcutaneously (SC) delivered drug candidates in clinical and preclinical development.”,” the firm’s analyst commented.
Other equities analysts have also recently issued research reports about the stock. Chardan Capital set a $16.00 price target on shares of Arrowhead Pharmaceuticals and gave the stock a buy rating in a research note on Sunday, July 8th. B. Riley boosted their price target on shares of Arrowhead Pharmaceuticals from $12.00 to $18.00 and gave the stock a neutral rating in a research note on Wednesday, August 8th. BidaskClub raised shares of Arrowhead Pharmaceuticals from a hold rating to a buy rating in a research note on Saturday, May 12th. Jefferies Financial Group reissued a buy rating and issued a $20.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, August 8th. Finally, S&P Equity Research cut their price target on shares of Arrowhead Pharmaceuticals from $13.76 to $11.68 in a research note on Monday, June 18th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $18.36.
NASDAQ:ARWR traded up $0.16 during mid-day trading on Thursday, hitting $19.55. 133,478 shares of the stock traded hands, compared to its average volume of 1,349,619. The stock has a market cap of $1.24 billion, a P/E ratio of -41.87 and a beta of 1.91. Arrowhead Pharmaceuticals has a 12-month low of $2.65 and a 12-month high of $22.39. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.02.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.18) EPS for the quarter, topping the Zacks’ 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 analysts’ expectations of $0.62 million. equities analysts forecast that Arrowhead Pharmaceuticals will post -0.64 earnings per share for the current fiscal year.
In other news, CFO Kenneth Allen Myszkowski sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $14.01, for a total value of $280,200.00. Following the completion of the sale, the chief financial officer now owns 330,815 shares of the company’s stock, valued at approximately $4,634,718.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Richard Anzalone sold 100,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 1,868,789 shares of the company’s stock, valued at approximately $27,004,001.05. The disclosure for this sale can be found here. Insiders sold a total of 284,834 shares of company stock valued at $4,107,051 in the last ninety days. 4.60% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Arrowhead Pharmaceuticals by 341.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 340,244 shares of the biotechnology company’s stock valued at $4,628,000 after buying an additional 263,205 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at $557,000. Metropolitan Life Insurance Co. NY bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at $393,000. Macquarie Group Ltd. bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at $151,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at $244,000. 58.96% of the stock is owned by institutional investors.
Arrowhead Pharmaceuticals Company Profile
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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