Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 13,603,112 shares, a growth of 10.3% from the July 13th total of 12,328,878 shares. Based on an average daily trading volume, of 2,117,807 shares, the days-to-cover ratio is presently 6.4 days. Currently, 18.1% of the shares of the stock are short sold.
Shares of Arrowhead Pharmaceuticals stock opened at $16.89 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.16 and a current ratio of 8.69. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -35.94 and a beta of 1.85. Arrowhead Pharmaceuticals has a one year low of $1.72 and a one year high of $17.50.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. The business had revenue of $0.73 million for the quarter, compared to analysts’ expectations of $0.62 million. Arrowhead Pharmaceuticals had a negative return on equity of 59.39% and a negative net margin of 400.13%. equities analysts expect that Arrowhead Pharmaceuticals will post -0.69 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in ARWR. BlackRock Inc. increased its stake in Arrowhead Pharmaceuticals by 108.1% in the 2nd quarter. BlackRock Inc. now owns 7,083,926 shares of the biotechnology company’s stock worth $96,342,000 after purchasing an additional 3,679,986 shares during the period. Acuta Capital Partners LLC purchased a new position in Arrowhead Pharmaceuticals in the 1st quarter worth approximately $12,706,000. OppenheimerFunds Inc. increased its stake in Arrowhead Pharmaceuticals by 23.9% in the 1st quarter. OppenheimerFunds Inc. now owns 7,807,644 shares of the biotechnology company’s stock worth $56,293,000 after purchasing an additional 1,507,644 shares during the period. Nexthera Capital LP purchased a new position in Arrowhead Pharmaceuticals in the 1st quarter worth approximately $8,033,000. Finally, Bank of New York Mellon Corp increased its stake in Arrowhead Pharmaceuticals by 341.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 340,244 shares of the biotechnology company’s stock worth $4,628,000 after purchasing an additional 263,205 shares during the period. 46.27% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the company. BidaskClub upgraded Arrowhead Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, August 8th. ValuEngine upgraded Arrowhead Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Jefferies Financial Group restated a “buy” rating and issued a $20.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, August 8th. Finally, Piper Jaffray Companies boosted their target price on Arrowhead Pharmaceuticals to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 8th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.95.
About Arrowhead Pharmaceuticals
Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. Its pre-clinical stage medicines include ARO-HBV to treat chronic hepatitis B virus infection; ARO-AAT for the treatment of liver disease associated with alpha-1 antitrypsin deficiency; ARO-APOC3 and ARO-ANG3 to treat hypertriglyceridemia; ARO-Lung1 for the treatment of an undisclosed pulmonary target; ARO-HIF2 to treat renal cell carcinoma; ARO-F12 for hereditary angioedema and thromboembolic disorders; and ARO-AMG1 for the treatment of an undisclosed genetically validated cardiovascular target.
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