Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $31.00 Price Target at SVB Leerink

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective lifted by SVB Leerink from $29.00 to $31.00 in a report published on Thursday morning, Benzinga reports. SVB Leerink currently has a market perform rating on the biotechnology company’s stock.

ARWR has been the subject of a number of other research reports. TheStreet lowered Arrowhead Pharmaceuticals from a c- rating to a d+ rating in a research note on Thursday, September 3rd. BidaskClub lowered Arrowhead Pharmaceuticals from a sell rating to a strong sell rating in a research note on Saturday, September 12th. ValuEngine raised Arrowhead Pharmaceuticals from a hold rating to a buy rating in a research report on Saturday, August 22nd. Chardan Capital reissued a buy rating and set a $81.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 29th. Finally, HC Wainwright reissued a buy rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $62.20.

Shares of Arrowhead Pharmaceuticals stock opened at $43.10 on Thursday. Arrowhead Pharmaceuticals has a 52-week low of $19.51 and a 52-week high of $73.72. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of -172.40 and a beta of 1.67. The company’s 50 day moving average price is $40.60 and its 200-day moving average price is $37.21.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Arrowhead Pharmaceuticals had a negative return on equity of 5.65% and a negative net margin of 19.75%. The business had revenue of $27.38 million during the quarter, compared to analysts’ expectations of $38.76 million. Analysts forecast that Arrowhead Pharmaceuticals will post -0.47 earnings per share for the current year.

In other news, CEO Christopher Richard Anzalone sold 50,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $41.35, for a total value of $2,067,500.00. Following the completion of the transaction, the chief executive officer now owns 2,655,237 shares of the company’s stock, valued at approximately $109,794,049.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ARWR. GSA Capital Partners LLP raised its holdings in shares of Arrowhead Pharmaceuticals by 70.7% during the 1st quarter. GSA Capital Partners LLP now owns 7,511 shares of the biotechnology company’s stock worth $216,000 after acquiring an additional 3,111 shares in the last quarter. State of Tennessee Treasury Department increased its position in shares of Arrowhead Pharmaceuticals by 47.1% during the 1st quarter. State of Tennessee Treasury Department now owns 44,126 shares of the biotechnology company’s stock valued at $1,270,000 after purchasing an additional 14,126 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Arrowhead Pharmaceuticals by 33.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,551 shares of the biotechnology company’s stock valued at $678,000 after purchasing an additional 5,894 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Arrowhead Pharmaceuticals by 247.1% during the 1st quarter. AQR Capital Management LLC now owns 438,025 shares of the biotechnology company’s stock valued at $12,602,000 after purchasing an additional 311,829 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its position in shares of Arrowhead Pharmaceuticals by 37.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 23,800 shares of the biotechnology company’s stock valued at $685,000 after purchasing an additional 6,500 shares during the last quarter. 66.34% 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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