Arrowhead Research Corp. (NASDAQ:ARWR) has been given a $10.00 price objective by Chardan Capital in a report issued on Thursday. The brokerage presently has a a “buy” rating on the stock. Chardan Capital’s price target points to a potential upside of 36.05% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald reissued a “buy” rating and set a $15.00 price target on shares of Arrowhead Research Corp. in a research report on Thursday. Piper Jaffray Cos. decreased their target price on shares of Arrowhead Research Corp. from $13.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 10th. Finally, William Blair assumed coverage on shares of Arrowhead Research Corp. in a research report on Friday, August 19th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $10.11.
Shares of Arrowhead Research Corp. (NASDAQ:ARWR) opened at 7.35 on Thursday. The company’s market capitalization is $446.51 million. The stock has a 50 day moving average of $7.07 and a 200-day moving average of $5.96. Arrowhead Research Corp. has a 12-month low of $3.07 and a 12-month high of $8.22.
Arrowhead Research Corp. (NASDAQ:ARWR) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.05. The firm had revenue of $39.58 million for the quarter, compared to analysts’ expectations of $0.05 million. Arrowhead Research Corp. had a negative net margin of 48,980.81% and a negative return on equity of 100.50%. The company’s revenue was down 68.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.27) EPS. Analysts predict that Arrowhead Research Corp. will post ($1.31) earnings per share for the current fiscal year.
In other Arrowhead Research Corp. news, CFO Kenneth Allen Myszkowski sold 6,900 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $8.00, for a total transaction of $55,200.00. Following the sale, the chief financial officer now directly owns 128,789 shares in the company, valued at $1,030,312. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Moors & Cabot Inc. raised its stake in shares of Arrowhead Research Corp. by 0.6% in the second quarter. Moors & Cabot Inc. now owns 36,270 shares of the company’s stock worth $190,000 after buying an additional 200 shares during the period. ProShare Advisors LLC raised its stake in Arrowhead Research Corp. by 1.2% in the second quarter. ProShare Advisors LLC now owns 52,038 shares of the company’s stock worth $277,000 after buying an additional 616 shares during the last quarter. California State Teachers Retirement System raised its stake in Arrowhead Research Corp. by 0.7% in the second quarter. California State Teachers Retirement System now owns 126,906 shares of the company’s stock worth $675,000 after buying an additional 852 shares during the last quarter. BlackRock Advisors LLC raised its stake in Arrowhead Research Corp. by 4.6% in the second quarter. BlackRock Advisors LLC now owns 27,943 shares of the company’s stock worth $149,000 after buying an additional 1,232 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in Arrowhead Research Corp. by 4.6% in the second quarter. Nationwide Fund Advisors now owns 38,161 shares of the company’s stock worth $203,000 after buying an additional 1,684 shares during the last quarter. Institutional investors own 33.92% of the company’s stock.
Arrowhead Research Corp. Company Profile
Arrowhead Pharmaceuticals, Inc, formerly Arrowhead Research Corporation, is a biopharmaceutical company. The Company is engaged in developing RiboNucleic Acid interference (RNAi) therapeutics. Its products include ARC-520, ARC-521, ARC-AAT, ARC-F12, ARC-HIF2 and ARC-LPA. ARC-520 is designed to treat chronic hepatitis B virus (HBV) infection.
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