Piper Jaffray Companies reaffirmed their overweight rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report published on Thursday morning, The Fly reports. The firm currently has a $25.00 price objective on the biotechnology company’s stock.
ARWR has been the subject of a number of other reports. BidaskClub upgraded shares of Arrowhead Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Friday, June 15th. Cantor Fitzgerald reiterated an overweight rating and issued a $13.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, August 8th. Jefferies Financial Group restated a buy rating and set a $20.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, August 8th. Chardan Capital upped their target price 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. Finally, B. Riley upgraded shares of Arrowhead Pharmaceuticals from a neutral rating to a buy rating and upped their target price for the stock from $18.00 to $19.00 in a research report on Thursday, September 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $21.36.
ARWR opened at $14.74 on Thursday. 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 1-year low of $3.01 and a 1-year high of $22.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.69 and a quick ratio of 8.69.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. The business had revenue of $0.73 million during the quarter, compared to analyst estimates of $0.62 million. Arrowhead Pharmaceuticals had a negative net margin of 400.13% and a negative return on equity of 59.39%. Equities research analysts anticipate that Arrowhead Pharmaceuticals will post -0.64 earnings per share for the current fiscal year.
In related news, CFO Kenneth Allen Myszkowski sold 45,000 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $19.34, for a total transaction of $870,300.00. Following the completion of the transaction, 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 SEC, which is available through this hyperlink. Also, CEO Christopher Richard Anzalone sold 100,000 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $14.45, for a total transaction of $1,445,000.00. 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 90 days, insiders have sold 309,834 shares of company stock valued at $4,697,151. 4.60% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Arrowhead Pharmaceuticals during the second quarter valued at $100,000. Great West Life Assurance Co. Can purchased a new stake in Arrowhead Pharmaceuticals during the second quarter valued at $106,000. Macquarie Group Ltd. purchased a new stake in Arrowhead Pharmaceuticals during the second quarter valued at $151,000. Amalgamated Bank purchased a new stake in Arrowhead Pharmaceuticals during the second quarter valued at $181,000. Finally, Legal & General Group Plc purchased a new stake in Arrowhead Pharmaceuticals during the second quarter valued at $188,000. 58.77% of the stock is currently 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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