Chardan Capital reiterated their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note issued to investors on Monday, February 19th, MarketBeat.com reports. The firm currently has a $7.00 price target on the biotechnology company’s stock.
“We believe that Arrowhead is positioned to achieve a number of significant milestones in 2018. The Company spent most of 2017 quietly regrouping following its announcement in November 2016 that it was discontinuing all of its clinical RNAi programs (ARC-520, ARC-521, and ARC-AAT), which use its dynamic polyconjugate (DPC) delivery technology. The decision to discontinue development of these programs was based on the substantial delays that would have occurred in order to further explore the cause of deaths in a non-clinical toxicology study in non-human primates. Arrowhead subsequently reduced its workforce by approximately 30%. In September 2017, the Company unveiled its new proprietary delivery technology they call Targeted RNAi Molecule (TRiM), along with a portfolio of newly named candidates. Arrowhead’s TRiM delivery technology leverages advances in RNA chemistry and targeting, to deliver a payload with increased potency.”,” Chardan Capital’s analyst wrote.
A number of other equities research analysts have also issued reports on the company. BidaskClub lowered Arrowhead Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Wednesday, February 14th. B. Riley increased their price target on Arrowhead Pharmaceuticals from $3.00 to $4.00 and gave the company a neutral rating in a research report on Monday, February 12th. ValuEngine upgraded Arrowhead Pharmaceuticals from a sell rating to a hold rating in a report on Friday, February 2nd. Piper Jaffray Companies upgraded Arrowhead Pharmaceuticals from a neutral rating to an overweight rating and set a $5.50 price objective on the stock in a report on Monday, November 27th. Finally, Cantor Fitzgerald set a $2.00 price objective on Arrowhead Pharmaceuticals and gave the company a hold rating in a report on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Arrowhead Pharmaceuticals currently has a consensus rating of Buy and an average price target of $4.70.
Shares of Arrowhead Pharmaceuticals (NASDAQ ARWR) traded down $0.27 during trading on Monday, hitting $7.37. The stock had a trading volume of 1,419,973 shares, compared to its average volume of 1,420,000. Arrowhead Pharmaceuticals has a twelve month low of $1.42 and a twelve month high of $7.93. The firm has a market cap of $639.62, a price-to-earnings ratio of -15.68 and a beta of 2.40. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.03.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Tuesday, December 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.02). Arrowhead Pharmaceuticals had a negative net margin of 116.17% and a negative return on equity of 42.52%. The business had revenue of $8.71 million during the quarter, compared to analyst estimates of $7.32 million. research analysts expect that Arrowhead Pharmaceuticals will post -0.71 earnings per share for the current year.
In related news, COO Bruce D. Given sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, March 5th. The stock was sold at an average price of $6.73, for a total transaction of $134,600.00. Following the completion of the transaction, the chief operating officer now directly owns 908,356 shares of the company’s stock, valued at $6,113,235.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.60% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in ARWR. OppenheimerFunds Inc. grew its position in shares of Arrowhead Pharmaceuticals by 110.0% in the fourth quarter. OppenheimerFunds Inc. now owns 6,300,000 shares of the biotechnology company’s stock valued at $23,184,000 after purchasing an additional 3,300,000 shares during the period. First Manhattan Co. purchased a new stake in Arrowhead Pharmaceuticals during the fourth quarter valued at about $11,707,000. ING Groep NV purchased a new stake in Arrowhead Pharmaceuticals during the third quarter valued at about $3,500,000. Allianz Asset Management GmbH purchased a new stake in Arrowhead Pharmaceuticals during the third quarter valued at about $1,958,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 297.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 173,078 shares of the biotechnology company’s stock worth $637,000 after purchasing an additional 129,488 shares in the last quarter. 26.88% of the stock is owned by institutional investors and hedge funds.
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Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc, formerly Arrowhead Research Corporation, develops medicines that treat intractable diseases by silencing the genes that cause them. Using a portfolio of ribonucleic acid (RNA) chemistries and modes of delivery, the Company’s therapies trigger the RNA interference mechanism to induce knockdown of target genes.
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