Equities researchers at Stifel Nicolaus initiated coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) in a research note issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $98.00 price target on the biotechnology company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 32.24% from the company’s previous close.
Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of Arrowhead Pharmaceuticals in a research note on Friday, May 1st. They issued an “overweight” rating and a $88.00 target price for the company. Chardan Capital restated a “buy” rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, June 30th. Weiss Ratings lowered shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada increased their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.17.
View Our Latest Stock Analysis on Arrowhead Pharmaceuticals
Arrowhead Pharmaceuticals Price Performance
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The firm had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The business’s quarterly revenue was down 86.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.75 earnings per share. As a group, sell-side analysts predict that Arrowhead Pharmaceuticals will post -3 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Daniel Joseph Apel sold 13,095 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total value of $934,328.25. Following the transaction, the chief financial officer directly owned 162,905 shares in the company, valued at approximately $11,623,271.75. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total value of $228,333.60. Following the completion of the transaction, the director directly owned 52,012 shares in the company, valued at approximately $3,998,682.56. This represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 26,065 shares of company stock valued at $1,912,662. 3.60% of the stock is owned by insiders.
Institutional Trading of Arrowhead Pharmaceuticals
Several hedge funds and other institutional investors have recently bought and sold shares of ARWR. Tsfg LLC acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $25,000. Optiver Holding B.V. boosted its stake in Arrowhead Pharmaceuticals by 83.8% during the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after buying an additional 186 shares in the last quarter. Versant Capital Management Inc increased its holdings in Arrowhead Pharmaceuticals by 285.1% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 248 shares during the period. Carolina Wealth Advisors LLC raised its stake in shares of Arrowhead Pharmaceuticals by 80.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 154 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth about $29,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.
Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.
The company’s pipeline includes multiple candidates in various stages of development.
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