Arrowhead Research Corp. (ARWR) Trading Down 4.9%
Shares of Arrowhead Research Corp. (NASDAQ:ARWR) dropped 4.9% on Wednesday . The stock traded as low as $6.98 and last traded at $7.00, with a volume of 471,734 shares trading hands. The stock had previously closed at $7.36.
ARWR has been the subject of several research analyst reports. Cantor Fitzgerald initiated coverage on Arrowhead Research Corp. in a report on Wednesday, August 17th. They issued a “buy” rating and a $15.00 price objective for the company. William Blair initiated coverage on Arrowhead Research Corp. in a report on Friday, August 19th. They issued an “outperform” rating for the company. Chardan Capital reissued a “buy” rating and issued a $10.00 price objective on shares of Arrowhead Research Corp. in a report on Wednesday, September 7th. Finally, 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 report on Wednesday, August 10th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $10.11.
The company’s market capitalization is $438.01 million. The company’s 50-day moving average price is $6.78 and its 200 day moving average price is $5.83.
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Arrowhead Research Corp. (NASDAQ:ARWR) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.05. The firm earned $39.58 million during the quarter, compared to analysts’ expectations of $0.05 million. Arrowhead Research Corp. had a negative net margin of 48,980.81% and a negative return on equity of 100.50%. Arrowhead Research Corp.’s revenue for the quarter was down 68.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.27) earnings per share. Analysts predict 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 company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 128,789 shares in the company, valued at $1,030,312. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Quantitative Investment Management LLC purchased a new stake in Arrowhead Research Corp. during the second quarter worth about $132,000. BlackRock Advisors LLC boosted its stake in 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. Moors & Cabot Inc. boosted its stake in 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. Nationwide Fund Advisors boosted its stake in Arrowhead Research Corp. by 4.6% in the second quarter. Nationwide Fund Advisors now owns 38,161 shares of the company’s stock worth $203,000 after buying an additional 1,684 shares during the period. Finally, Falcon Point Capital LLC boosted its stake in Arrowhead Research Corp. by 12.5% in the second quarter. Falcon Point Capital LLC now owns 49,147 shares of the company’s stock worth $261,000 after buying an additional 5,458 shares during the period. 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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