Piper Jaffray Companies Raises Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target to $33.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective lifted by Piper Jaffray Companies from $25.00 to $33.00 in a report released on Tuesday, April 16th, The Fly reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other analysts also recently commented on ARWR. Cantor Fitzgerald set a $24.00 price objective on Arrowhead Pharmaceuticals and gave the stock a buy rating in a research note on Friday, April 12th. Chardan Capital reissued a buy rating and issued a $24.50 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, February 11th. Finally, BidaskClub raised Arrowhead Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, February 14th. Seven equities research analysts have rated the stock with a buy rating, Arrowhead Pharmaceuticals has a consensus rating of Buy and an average price target of $22.70.

Shares of Arrowhead Pharmaceuticals stock traded up $0.06 on Tuesday, hitting $19.51. 1,307,344 shares of the company’s stock traded hands, compared to its average volume of 1,548,651. Arrowhead Pharmaceuticals has a one year low of $8.87 and a one year high of $22.39. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -30.02 and a beta of 2.15.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Arrowhead Pharmaceuticals had a negative return on equity of 24.23% and a negative net margin of 61.78%. The business had revenue of $48.15 million for the quarter, compared to the consensus estimate of $45.78 million. On average, analysts predict that Arrowhead Pharmaceuticals will post 1.07 earnings per share for the current fiscal year.

In other Arrowhead Pharmaceuticals news, COO Bruce D. Given sold 42,500 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $19.99, for a total transaction of $849,575.00. Following the completion of the transaction, the chief operating officer now directly owns 687,106 shares of the company’s stock, valued at $13,735,248.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Bruce D. Given sold 68,750 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $17.86, for a total value of $1,227,875.00. Following the transaction, the chief operating officer now directly owns 644,606 shares of the company’s stock, valued at $11,512,663.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 548,834 shares of company stock valued at $9,657,395. 4.80% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. First Quadrant L P CA boosted its holdings in shares of Arrowhead Pharmaceuticals by 831.4% in the first quarter. First Quadrant L P CA now owns 3,353 shares of the biotechnology company’s stock worth $62,000 after acquiring an additional 2,993 shares during the period. Lindbrook Capital LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $52,000. Advisor Group Inc. raised its position in shares of Arrowhead Pharmaceuticals by 73.4% in the fourth quarter. Advisor Group Inc. now owns 8,670 shares of the biotechnology company’s stock worth $109,000 after buying an additional 3,670 shares in the last quarter. Wealth Architects LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $124,000. Finally, Beaumont Financial Partners LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $124,000. 62.48% of the stock is owned by hedge funds and other 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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