Cantor Fitzgerald reissued their buy rating on shares of Arrowhead Research Corp. (NASDAQ:ARWR) in a research note released on Thursday. Cantor Fitzgerald currently has a $15.00 price target on the stock.
Several other research firms have also weighed in on ARWR. Piper Jaffray Cos. lowered their price objective on Arrowhead Research Corp. from $13.00 to $8.00 and set an overweight rating on the stock in a research note on Wednesday, August 10th. Chardan Capital reiterated a buy rating and issued a $10.00 price objective on shares of Arrowhead Research Corp. in a research note on Wednesday, September 7th. Finally, William Blair assumed coverage on Arrowhead Research Corp. in a research note on Friday, August 19th. They issued an outperform rating on the stock. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $10.11.
Arrowhead Research Corp. (NASDAQ:ARWR) opened at 7.18 on Thursday. The stock’s 50 day moving average price is $7.11 and its 200 day moving average price is $6.01. The firm’s market capitalization is $436.19 million. 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 issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.05. Arrowhead Research Corp. had a negative return on equity of 100.50% and a negative net margin of 48,980.81%. The firm had revenue of $39.58 million for the quarter, compared to analyst estimates of $0.05 million. During the same period in the previous year, the company posted ($0.27) earnings per share. The company’s quarterly revenue was down 68.0% compared to the same quarter last year. Equities research analysts expect that Arrowhead Research Corp. will post ($1.31) earnings per share for the current fiscal year.
In other news, CFO Kenneth Allen Myszkowski sold 6,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $8.00, for a total value of $55,200.00. Following the transaction, the chief financial officer now directly owns 128,789 shares of the company’s stock, valued at approximately $1,030,312. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ARWR. Quantitative Investment Management LLC purchased a new position in Arrowhead Research Corp. during the second quarter valued at about $132,000. BlackRock Advisors LLC increased its position in Arrowhead Research Corp. by 4.6% in the second quarter. BlackRock Advisors LLC now owns 27,943 shares of the company’s stock valued at $149,000 after buying an additional 1,232 shares in the last quarter. Moors & Cabot Inc. increased its position in Arrowhead Research Corp. by 0.6% in the second quarter. Moors & Cabot Inc. now owns 36,270 shares of the company’s stock valued at $190,000 after buying an additional 200 shares in the last quarter. Nationwide Fund Advisors increased its position in Arrowhead Research Corp. by 4.6% in the second quarter. Nationwide Fund Advisors now owns 38,161 shares of the company’s stock valued at $203,000 after buying an additional 1,684 shares in the last quarter. Finally, Falcon Point Capital LLC increased its position in Arrowhead Research Corp. by 12.5% in the second quarter. Falcon Point Capital LLC now owns 49,147 shares of the company’s stock valued at $261,000 after buying an additional 5,458 shares in the last quarter. 33.92% of the stock is currently owned by hedge funds and other institutional investors.
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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