Arrowhead Research Corp. (ARWR) Shares Up 4.2%
Shares of Arrowhead Research Corp. (NASDAQ:ARWR) shot up 4.2% on Tuesday . The stock traded as high as $7.59 and last traded at $7.38, with a volume of 485,419 shares trading hands. The stock had previously closed at $7.08.
Several brokerages have 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 for the company in a research report 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 report on Wednesday, September 7th. William Blair began coverage on Arrowhead Research Corp. in a research report on Friday, August 19th. They issued an “outperform” rating for the company. Finally, Cantor Fitzgerald began coverage on Arrowhead Research Corp. in a research report on Wednesday, August 17th. They issued a “buy” rating and a $15.00 price objective for the company. One equities research 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. Arrowhead Research Corp. has a consensus rating of “Buy” and a consensus target price of $10.11.
The firm’s market capitalization is $438.01 million. The company’s 50-day moving average price is $6.82 and its 200 day moving average price is $5.84.
Arrowhead Research Corp. (NASDAQ:ARWR) last released 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 business earned $39.58 million during the quarter, compared to analysts’ expectations of $0.05 million. Arrowhead Research Corp. had a negative return on equity of 100.50% and a negative net margin of 48,980.81%. The firm’s revenue for the quarter was down 68.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.27) EPS. Analysts expect that Arrowhead Research Corp. will post ($1.31) EPS for the current year.
In other Arrowhead Research Corp. news, CFO Kenneth Allen Myszkowski sold 6,900 shares of the firm’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 transaction of $55,200.00. Following the completion of the transaction, the chief financial officer now owns 128,789 shares in the company, valued at approximately $1,030,312. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. boosted its position 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. Geode Capital Management LLC boosted its position in shares of Arrowhead Research Corp. by 8.3% in the first quarter. Geode Capital Management LLC now owns 408,065 shares of the company’s stock worth $1,966,000 after buying an additional 31,293 shares during the period. State Street Corp boosted its position in shares of Arrowhead Research Corp. by 0.3% in the first quarter. State Street Corp now owns 944,860 shares of the company’s stock worth $4,551,000 after buying an additional 3,053 shares during the period. BlackRock Investment Management LLC boosted its position in shares of Arrowhead Research Corp. by 4.6% in the second quarter. BlackRock Investment Management LLC now owns 226,255 shares of the company’s stock worth $1,204,000 after buying an additional 9,953 shares during the period. Finally, BlackRock Advisors LLC boosted its position in shares of 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 period. Institutional investors and hedge funds own 33.92% of the company’s stock.
About Arrowhead Research Corp.
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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