Arrowhead Research Corp. (ARWR) Price Target Cut to $8.00 by Analysts at Chardan Capital
Arrowhead Research Corp. (NASDAQ:ARWR) had its target price cut by Chardan Capital from $10.00 to $8.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the stock. Chardan Capital’s target price suggests a potential upside of 90.48% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $15.00 price objective on shares of Arrowhead Research Corp. in a research report on Thursday, September 29th. Piper Jaffray Cos. lowered their target price on shares of Arrowhead Research Corp. from $13.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, August 10th. Finally, William Blair started coverage on shares of Arrowhead Research Corp. in a report on Friday, August 19th. They issued an “outperform” rating for the company. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Arrowhead Research Corp. presently has a consensus rating of “Buy” and an average price target of $9.77.
Shares of Arrowhead Research Corp. (NASDAQ:ARWR) opened at 4.20 on Thursday. The company’s 50-day moving average is $6.60 and its 200 day moving average is $6.21. The company’s market cap is $255.15 million. Arrowhead Research Corp. has a 1-year low of $3.07 and a 1-year high of $8.22.
Arrowhead Research Corp. (NASDAQ:ARWR) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.32) EPS for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $0.05 million. During the same quarter last year, the business earned ($0.27) earnings per share. Arrowhead Research Corp.’s quarterly revenue was down 68.0% compared to the same quarter last year. Equities analysts anticipate that Arrowhead Research Corp. will post ($1.31) EPS for the current year.
In related news, Director Douglas B. Given sold 12,000 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is accessible through this link. Also, CFO Kenneth Allen Myszkowski sold 6,900 shares of the firm’s stock in a transaction dated 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 directly owns 128,789 shares in the company, valued at approximately $1,030,312. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System bought a new position in Arrowhead Research Corp. during the second quarter valued at approximately $1,462,000. Point72 Asset Management L.P. bought a new position in Arrowhead Research Corp. during the second quarter valued at approximately $1,362,000. BlackRock Institutional Trust Company N.A. increased its position in Arrowhead Research Corp. by 11.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,715,221 shares of the company’s stock valued at $12,607,000 after buying an additional 171,165 shares in the last quarter. BlackRock Fund Advisors increased its position in Arrowhead Research Corp. by 6.4% in the third quarter. BlackRock Fund Advisors now owns 2,490,393 shares of the company’s stock valued at $18,304,000 after buying an additional 150,805 shares in the last quarter. Finally, KCG Holdings Inc. bought a new position in Arrowhead Research Corp. during the second quarter valued at approximately $439,000. 34.00% of the stock is currently owned by institutional investors.
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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