Leerink Swann began coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research report sent to investors on Tuesday, The Fly reports. The brokerage issued an underperform rating and a $32.00 price objective on the biotechnology company’s stock.
Several other research analysts have also commented on ARWR. Cantor Fitzgerald reissued a neutral rating and issued a $50.00 price target (up from $24.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, November 19th. Oppenheimer assumed coverage on Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. They issued a hold rating for the company. S&P Equity Research reissued a buy rating on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, November 26th. Piper Jaffray Companies boosted their price target on Arrowhead Pharmaceuticals from $72.00 to $80.00 and gave the stock an overweight rating in a research report on Monday, December 9th. Finally, Chardan Capital reissued a buy rating and issued a $81.00 price target (up from $45.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, November 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $61.14.
NASDAQ ARWR traded down $1.81 on Tuesday, reaching $44.40. 89,056 shares of the stock traded hands, compared to its average volume of 1,603,233. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 64.20 and a beta of 1.97. Arrowhead Pharmaceuticals has a 12 month low of $12.56 and a 12 month high of $73.72. The company has a fifty day moving average price of $61.95 and a 200-day moving average price of $42.25.
In other news, CFO Kenneth Allen Myszkowski sold 37,884 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $40.85, for a total value of $1,547,561.40. Following the sale, the chief financial officer now owns 351,420 shares in the company, valued at $14,355,507. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Richard Anzalone sold 37,967 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $69.15, for a total value of $2,625,418.05. Following the completion of the sale, the chief executive officer now owns 2,116,160 shares in the company, valued at approximately $146,332,464. The disclosure for this sale can be found here. Insiders have sold a total of 286,402 shares of company stock worth $17,138,919 over the last ninety days. 4.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its holdings in Arrowhead Pharmaceuticals by 96.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 500 shares during the period. Global Retirement Partners LLC acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter worth about $44,000. Evoke Wealth LLC acquired a new position in Arrowhead Pharmaceuticals in the 3rd quarter worth about $116,000. NEXT Financial Group Inc acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter worth about $139,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Arrowhead Pharmaceuticals by 10.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,701 shares of the biotechnology company’s stock worth $161,000 after purchasing an additional 531 shares during the period. 70.33% of the stock is owned by institutional investors.
About Arrowhead Pharmaceuticals
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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