Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective lifted by analysts at Jefferies Financial Group to $24.00 in a report issued on Friday, September 14th, The Fly reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 62.82% from the company’s previous close.
Several other research analysts also recently issued reports on the stock. Chardan Capital raised their price objective on shares of Arrowhead Pharmaceuticals from $17.50 to $24.50 and gave the stock a “buy” rating in a research report on Thursday, September 6th. B. Riley raised shares of Arrowhead Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.00 to $19.00 in a research report on Thursday, September 6th. Cantor Fitzgerald set a $18.00 price objective on shares of Arrowhead Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, September 6th. BidaskClub downgraded shares of Arrowhead Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 16th. Finally, 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. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Arrowhead Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $21.36.
Shares of NASDAQ ARWR traded down $0.59 during mid-day trading on Friday, reaching $14.74. The company had a trading volume of 6,033,070 shares, compared to its average volume of 2,039,300. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.69 and a quick ratio of 8.69. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -31.36 and a beta of 1.74. Arrowhead Pharmaceuticals has a 52-week low of $3.01 and a 52-week high of $22.39.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.18) EPS for the quarter, beating 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 firm had revenue of $0.73 million for the quarter, compared to the consensus estimate of $0.62 million. As a group, sell-side analysts forecast that Arrowhead Pharmaceuticals will post -0.64 earnings per share for the current year.
In related news, CFO Kenneth Allen Myszkowski sold 45,000 shares of the firm’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $19.34, for a total value of $870,300.00. Following the completion of the sale, the chief financial officer now owns 335,815 shares in the company, valued at $6,494,662.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Richard Anzalone sold 164,834 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $14.45, for a total transaction of $2,381,851.30. Following the transaction, the chief executive officer now 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. In the last ninety days, insiders sold 309,834 shares of company stock worth $4,697,151. Insiders own 4.60% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Quantitative Systematic Strategies LLC acquired a new position in Arrowhead Pharmaceuticals during the first quarter worth about $100,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Arrowhead Pharmaceuticals during the second quarter worth about $100,000. Great West Life Assurance Co. Can acquired a new position in Arrowhead Pharmaceuticals during the second quarter worth about $106,000. Trexquant Investment LP acquired a new position in Arrowhead Pharmaceuticals during the first quarter worth about $139,000. Finally, Macquarie Group Ltd. acquired a new position in Arrowhead Pharmaceuticals during the second quarter worth about $151,000. Institutional investors own 58.77% of the company’s stock.
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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