Arrowhead Research Corp.’s (ARWR) Hold Rating Reaffirmed at Jefferies Group
Arrowhead Research Corp. (NASDAQ:ARWR)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group in a research note issued on Wednesday. They currently have a $2.00 target price on the stock, down from their prior target price of $5.00. Jefferies Group’s target price indicates a potential upside of 38.89% from the company’s current price.
Several other brokerages have also commented on ARWR. William Blair began coverage on shares of Arrowhead Research Corp. in a research note on Friday, August 19th. They set an “outperform” rating on the stock. Cantor Fitzgerald began coverage on shares of Arrowhead Research Corp. in a research note on Wednesday, August 17th. They set a “buy” rating and a $15.00 price target on the stock. Chardan Capital cut their price target on shares of Arrowhead Research Corp. from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Finally, Piper Jaffray Cos. cut their price target on shares of 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. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Arrowhead Research Corp. presently has an average rating of “Hold” and an average price target of $4.55.
Arrowhead Research Corp. (NASDAQ:ARWR) traded down 2.708% during midday trading on Wednesday, hitting $1.401. 3,077,713 shares of the stock traded hands. The company’s market cap is $85.11 million. Arrowhead Research Corp. has a one year low of $1.39 and a one year high of $8.22. The company’s 50 day moving average is $5.64 and its 200-day moving average is $6.10.
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In other Arrowhead Research Corp. news, Director Douglas B. Given sold 12,000 shares of Arrowhead Research Corp. stock in a transaction on Friday, October 14th. The shares were sold at an average price of $6.72, for a total value of $80,640.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ARWR. Agran Libbie acquired a new position in Arrowhead Research Corp. during the third quarter worth approximately $135,000. BlackRock Group LTD increased its stake in shares of Arrowhead Research Corp. by 4.7% in the third quarter. BlackRock Group LTD now owns 20,563 shares of the company’s stock valued at $152,000 after buying an additional 929 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Arrowhead Research Corp. by 4,355.8% in the third quarter. Bank of Montreal Can now owns 22,502 shares of the company’s stock valued at $166,000 after buying an additional 21,997 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in shares of Arrowhead Research Corp. during the second quarter valued at $132,000. Finally, BlackRock Advisors LLC increased its stake 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 valued at $149,000 after buying an additional 1,232 shares during the last quarter. Institutional investors own 43.28% 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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