Arrowhead Pharmaceuticals’ (ARWR) “Hold” Rating Reaffirmed at Cantor Fitzgerald
Cantor Fitzgerald restated their hold rating on shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in a research note released on Friday morning. Cantor Fitzgerald currently has a $2.00 price target on the biotechnology company’s stock, up from their prior price target of $1.00.
“ARO-AAT and ARO-HBV in 1H18. Arrowhead’s lead preclinical programs are expected to have CTAs filed in 1Q18 and 2Q18, respectively. Gating items for these candidates include GLP toxicity studies (both candidates) and completion of cross reactivity studies for ARO-HBV. We are encouraged by the significant progress made and the established guidance to reach the clinic with two candidates by 1H18.”,” Cantor Fitzgerald’s analyst wrote.
Several other research analysts have also recently weighed in on ARWR. Jefferies Group LLC reaffirmed a hold rating and set a $2.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Friday, August 4th. ValuEngine lowered Arrowhead Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday, September 1st. Finally, Piper Jaffray Companies reiterated a hold rating and set a $2.00 target price on shares of Arrowhead Pharmaceuticals in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company presently has a consensus rating of Hold and an average target price of $2.00.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) traded up 18.28% during midday trading on Friday, hitting $3.30. The stock had a trading volume of 3,647,096 shares. The stock has a 50-day moving average of $2.41 and a 200-day moving average of $1.88. The firm’s market cap is $246.75 million. Arrowhead Pharmaceuticals has a 52 week low of $1.20 and a 52 week high of $8.09.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. The company had revenue of $9.34 million during the quarter, compared to analysts’ expectations of $5.29 million. Arrowhead Pharmaceuticals had a negative return on equity of 46.73% and a negative net margin of 201.84%. Analysts forecast that Arrowhead Pharmaceuticals will post ($0.42) EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in Arrowhead Pharmaceuticals by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 314,034 shares of the biotechnology company’s stock valued at $581,000 after buying an additional 11,099 shares during the period. Teachers Advisors LLC raised its stake in Arrowhead Pharmaceuticals by 18.0% in the fourth quarter. Teachers Advisors LLC now owns 112,642 shares of the biotechnology company’s stock valued at $175,000 after buying an additional 17,201 shares during the period. Geode Capital Management LLC raised its stake in Arrowhead Pharmaceuticals by 3.4% in the first quarter. Geode Capital Management LLC now owns 663,062 shares of the biotechnology company’s stock valued at $1,226,000 after buying an additional 21,654 shares during the period. Virtu KCG Holdings LLC raised its stake in Arrowhead Pharmaceuticals by 115.6% in the second quarter. Virtu KCG Holdings LLC now owns 99,267 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 53,215 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in Arrowhead Pharmaceuticals by 414.7% in the first quarter. UBS Asset Management Americas Inc. now owns 66,400 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 53,500 shares during the period. Hedge funds and other institutional investors own 20.63% of the company’s stock.
Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc, formerly Arrowhead Research Corporation, develops medicines that treat intractable diseases by silencing the genes that cause them. Using a portfolio of ribonucleic acid (RNA) chemistries and modes of delivery, the Company’s therapies trigger the RNA interference mechanism to induce knockdown of target genes.
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