Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a research report issued to clients and investors on Monday. They presently have a $7.00 target price on the biotechnology company’s stock. Chardan Capital’s price objective points to a potential upside of 22.81% from the stock’s current price.
The analysts wrote, “We believe that Arrowhead is positioned to achieve a number of significant milestones in 2018. The Company spent most of 2017 quietly regrouping following its announcement in November 2016 that it was discontinuing all of its clinical RNAi programs (ARC-520, ARC-521, and ARC-AAT), which use its dynamic polyconjugate (DPC) delivery technology. The decision to discontinue development of these programs was based on the substantial delays that would have occurred in order to further explore the cause of deaths in a non-clinical toxicology study in non-human primates. Arrowhead subsequently reduced its workforce by approximately 30%. In September 2017, the Company unveiled its new proprietary delivery technology they call Targeted RNAi Molecule (TRiM), along with a portfolio of newly named candidates. Arrowhead’s TRiM delivery technology leverages advances in RNA chemistry and targeting, to deliver a payload with increased potency.””
ARWR has been the topic of a number of other reports. Piper Jaffray Companies raised shares of Arrowhead Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.50 price target on the stock in a report on Monday, November 27th. ValuEngine raised shares of Arrowhead Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, November 30th. BidaskClub downgraded shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Cantor Fitzgerald set a $2.00 price target on shares of Arrowhead Pharmaceuticals and gave the stock a “hold” rating in a report on Tuesday, December 12th. Finally, B. Riley started coverage on shares of Arrowhead Pharmaceuticals in a report on Friday, January 5th. They issued a “neutral” rating and a $3.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $4.70.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Tuesday, December 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.02). The firm had revenue of $8.71 million for the quarter, compared to analysts’ expectations of $7.32 million. Arrowhead Pharmaceuticals had a negative return on equity of 42.52% and a negative net margin of 116.17%. sell-side analysts forecast that Arrowhead Pharmaceuticals will post -0.66 EPS for the current fiscal year.
In related news, COO Bruce D. Given sold 20,000 shares of the business’s stock in a transaction dated Monday, January 1st. The shares were sold at an average price of $3.69, for a total value of $73,800.00. Following the transaction, the chief operating officer now directly owns 948,356 shares of the company’s stock, valued at approximately $3,499,433.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.60% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Vanguard Capital Wealth Advisors purchased a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $119,000. Macquarie Group Ltd. bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $123,000. Jane Street Group LLC bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $130,000. Two Sigma Investments LP bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $146,000. Finally, Goldman Sachs Group Inc. raised its stake in Arrowhead Pharmaceuticals by 297.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 173,078 shares of the biotechnology company’s stock valued at $637,000 after acquiring an additional 129,488 shares during the period. 25.46% of the stock is currently owned by institutional investors.
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Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc, formerly Arrowhead Research Corporation, develops medicines that treat intractable diseases by silencing the genes that cause them. Using a portfolio of ribonucleic acid (RNA) chemistries and modes of delivery, the Company’s therapies trigger the RNA interference mechanism to induce knockdown of target genes.
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