Arrowhead Pharmaceuticals (NASDAQ:ARWR) PT Raised to $45.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective hoisted by analysts at Chardan Capital from $32.00 to $45.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Chardan Capital’s price target suggests a potential upside of 22.25% from the stock’s current price.

A number of other equities research analysts have also issued reports on ARWR. Robert W. Baird started coverage on Arrowhead Pharmaceuticals in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $39.00 target price on the stock. B. Riley upped their target price on Arrowhead Pharmaceuticals from $32.00 to $46.00 and gave the company a “buy” rating in a report on Monday, August 19th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, October 17th. Piper Jaffray Companies lifted their price target on Arrowhead Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Sunday. Finally, ValuEngine downgraded Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $41.60.

NASDAQ:ARWR traded down $2.84 during trading hours on Tuesday, reaching $36.81. 117,330 shares of the company’s stock were exchanged, compared to its average volume of 1,356,441. The company has a market capitalization of $3.70 billion, a P/E ratio of -56.49 and a beta of 1.48. Arrowhead Pharmaceuticals has a 12 month low of $10.41 and a 12 month high of $40.09. The business’s 50-day simple moving average is $31.21 and its two-hundred day simple moving average is $26.81.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.13). Arrowhead Pharmaceuticals had a net margin of 33.28% and a return on equity of 26.27%. The company had revenue of $42.70 million for the quarter, compared to analyst estimates of $59.05 million. On average, sell-side analysts forecast that Arrowhead Pharmaceuticals will post 0.75 EPS for the current year.

In related news, Director Michael S. Perry sold 100,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.90, for a total transaction of $2,890,000.00. Following the transaction, the director now directly owns 121,000 shares of the company’s stock, valued at $3,496,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Richard Anzalone sold 66,645 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $28.20, for a total value of $1,879,389.00. Following the completion of the sale, the chief executive officer now directly owns 2,146,153 shares of the company’s stock, valued at $60,521,514.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 312,220 shares of company stock valued at $9,235,464. 4.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd acquired a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at about $367,000. Crossmark Global Holdings Inc. purchased a new position in Arrowhead Pharmaceuticals during the second quarter valued at approximately $387,000. Campbell & CO Investment Adviser LLC acquired a new position in Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $389,000. Louisiana State Employees Retirement System acquired a new position in Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $958,000. Finally, Sound Income Strategies LLC purchased a new stake in Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 72.00% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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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Analyst Recommendations for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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