Arrowhead Research Corp. (NASDAQ:ARWR) Receives $10.11 Average PT from Brokerages
Shares of Arrowhead Research Corp. (NASDAQ:ARWR) have been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the firm. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $10.11.
Several brokerages have recently issued reports on ARWR. Chardan Capital restated a “buy” rating and issued a $10.00 target price on shares of Arrowhead Research Corp. in a report on Wednesday, September 7th. William Blair assumed coverage on shares of Arrowhead Research Corp. in a research report on Friday, August 19th. They issued an “outperform” rating for the company. Cantor Fitzgerald assumed coverage on shares of Arrowhead Research Corp. in a research report on Wednesday, August 17th. They issued a “buy” rating and a $15.00 price target for the company. Finally, Piper Jaffray Cos. reduced their price target on shares of 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.
Shares of Arrowhead Research Corp. (NASDAQ:ARWR) opened at 7.13 on Friday. The firm’s market cap is $433.15 million. The company’s 50-day moving average is $6.97 and its 200 day moving average is $5.92. Arrowhead Research Corp. has a 52-week low of $3.07 and a 52-week high of $8.22.
Arrowhead Research Corp. (NASDAQ:ARWR) last issued its 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 net margin of 48,980.81% and a negative return on equity of 100.50%. The business earned $39.58 million during the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter in the prior year, the business posted ($0.27) EPS. The company’s revenue for the quarter was down 68.0% on a year-over-year basis. On average, analysts expect 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 company’s stock in a transaction on Tuesday, August 23rd. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Arrowhead Research Corp. during the second quarter worth about $1,362,000. A.R.T. Advisors LLC bought a new position in shares of Arrowhead Research Corp. during the second quarter worth about $292,000. KCG Holdings Inc. bought a new position in shares of Arrowhead Research Corp. during the second quarter worth about $439,000. State Street Corp increased its position in shares of Arrowhead Research Corp. by 1.3% in the second quarter. State Street Corp now owns 957,536 shares of the company’s stock worth $5,096,000 after buying an additional 12,676 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of 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 in 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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