Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $86.06 and last traded at $84.8360, with a volume of 213684 shares. The stock had previously closed at $83.99.
Analyst Upgrades and Downgrades
ARWR has been the subject of several recent research reports. JPMorgan Chase & Co. started coverage on Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an “overweight” rating and a $88.00 price objective for the company. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. Leerink Partners lifted their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, June 17th. Royal Bank Of Canada boosted their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Sanford C. Bernstein raised their price target on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.27.
Get Our Latest Stock Report on Arrowhead Pharmaceuticals
Arrowhead Pharmaceuticals Stock Up 1.9%
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. The firm had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.Arrowhead Pharmaceuticals’s revenue was down 86.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.75 EPS. As a group, research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Hongbo Lu sold 2,970 shares of the business’s 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 transaction, the director directly owned 52,012 shares of the company’s stock, valued at approximately $3,998,682.56. The trade was a 5.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total transaction of $934,328.25. Following the transaction, the chief financial officer owned 162,905 shares of the company’s stock, valued at approximately $11,623,271.75. This represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders sold 26,065 shares of company stock valued at $1,912,662. 3.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Arrowhead Pharmaceuticals
Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in shares of Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after acquiring an additional 10,496 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Arrowhead Pharmaceuticals during the first quarter valued at approximately $514,000. Goldman Sachs Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 34.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after purchasing an additional 447,456 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 6.9% in the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after purchasing an additional 979 shares during the period. Finally, Focus Partners Wealth boosted its holdings in shares of Arrowhead Pharmaceuticals by 1,339.5% in the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 15,123 shares during the period. Institutional investors own 62.61% of the company’s stock.
About Arrowhead Pharmaceuticals
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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