Arrowhead Pharmaceuticals (ARWR) Reaches New 1-Year High After Analyst Upgrade

Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) shares hit a new 52-week high during mid-day trading on Tuesday after B. Riley raised their price target on the stock from $26.00 to $32.00. B. Riley currently has a buy rating on the stock. Arrowhead Pharmaceuticals traded as high as $25.04 and last traded at $25.04, with a volume of 6718 shares trading hands. The stock had previously closed at $24.04.

Other research analysts also recently issued research reports about the company. BidaskClub upgraded Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Cantor Fitzgerald set a $24.00 price objective on Arrowhead Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, April 12th. Chardan Capital restated a “buy” rating and issued a $24.50 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, February 11th. Finally, Piper Jaffray Companies upped their price objective on Arrowhead Pharmaceuticals from $25.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $24.86.

In other news, General Counsel Patrick O’brien sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $24.88, for a total transaction of $746,400.00. Following the transaction, the general counsel now owns 203,000 shares of the company’s stock, valued at approximately $5,050,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Bruce D. Given sold 42,500 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $19.99, for a total value of $849,575.00. Following the transaction, the chief operating officer now directly owns 687,106 shares in the company, valued at approximately $13,735,248.94. The disclosure for this sale can be found here. Insiders have sold a total of 149,571 shares of company stock worth $3,156,537 in the last ninety days. Insiders own 4.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. First Quadrant L P CA lifted its position in shares of Arrowhead Pharmaceuticals by 831.4% during the 1st quarter. First Quadrant L P CA now owns 3,353 shares of the biotechnology company’s stock valued at $62,000 after buying an additional 2,993 shares during the last quarter. Lindbrook Capital LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $52,000. Advisor Group Inc. raised its stake in shares of Arrowhead Pharmaceuticals by 73.4% during the 4th quarter. Advisor Group Inc. now owns 8,670 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 3,670 shares during the period. Beaumont Financial Partners LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $124,000. Finally, Quantamental Technologies LLC raised its stake in shares of Arrowhead Pharmaceuticals by 482.3% during the 1st quarter. Quantamental Technologies LLC now owns 10,266 shares of the biotechnology company’s stock valued at $188,000 after purchasing an additional 8,503 shares during the period. 62.31% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market cap of $2.37 billion, a PE ratio of -38.45 and a beta of 2.15.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Arrowhead Pharmaceuticals had a return on equity of 6.72% and a net margin of 10.09%. The company had revenue of $48.15 million for the quarter, compared to analyst estimates of $45.78 million. On average, equities research analysts forecast that Arrowhead Pharmaceuticals Inc will post 0.68 earnings per share for the current fiscal year.

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Arrowhead Pharmaceuticals Company Profile (NASDAQ:ARWR)

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.

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