Arrowhead Pharmaceuticals (ARWR) Coverage Initiated at B. Riley

B. Riley started coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a note issued to investors on Friday. The brokerage set a “neutral” rating and a $3.00 price target on the biotechnology company’s stock. B. Riley’s price objective indicates a potential downside of 38.14% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on ARWR. Piper Jaffray Companies upgraded shares of Arrowhead Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.50 price objective for the company in a report on Monday, November 27th. William Blair upgraded shares of Arrowhead Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, September 18th. Cantor Fitzgerald reiterated a “hold” rating and issued a $2.00 price objective (up from $1.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, September 15th. ValuEngine upgraded shares of Arrowhead Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. Finally, BidaskClub cut shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Arrowhead Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $3.13.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) opened at $4.85 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.63 and a current ratio of 3.63. Arrowhead Pharmaceuticals has a fifty-two week low of $1.42 and a fifty-two week high of $5.13. The company has a market cap of $347.20, a price-to-earnings ratio of -10.54 and a beta of 1.79.

In related news, COO Bruce D. Given sold 20,000 shares of the company’s stock in a transaction on Monday, January 1st. The shares were sold at an average price of $3.69, for a total value of $73,800.00. Following the completion of the sale, the chief operating officer now directly owns 948,356 shares in the company, valued at $3,499,433.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.57% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ARWR. Ameriprise Financial Inc. lifted its position in Arrowhead Pharmaceuticals by 1.1% during the 4th quarter. Ameriprise Financial Inc. now owns 919,532 shares of the biotechnology company’s stock worth $5,657,000 after acquiring an additional 10,314 shares during the last quarter. Balyasny Asset Management LLC acquired a new position in Arrowhead Pharmaceuticals during the 4th quarter worth $2,312,000. BlackRock Fund Advisors lifted its position in Arrowhead Pharmaceuticals by 0.7% during the 1st quarter. BlackRock Fund Advisors now owns 2,299,574 shares of the biotechnology company’s stock worth $11,084,000 after acquiring an additional 16,222 shares during the last quarter. BlackRock Institutional Trust Company N.A. lifted its position in Arrowhead Pharmaceuticals by 0.3% during the 1st quarter. BlackRock Institutional Trust Company N.A. now owns 1,546,223 shares of the biotechnology company’s stock worth $7,453,000 after acquiring an additional 4,271 shares during the last quarter. Finally, State Street Corp lifted its position in Arrowhead Pharmaceuticals by 0.3% during the 1st quarter. State Street Corp now owns 944,860 shares of the biotechnology company’s stock worth $4,551,000 after acquiring an additional 3,053 shares during the last quarter. 20.05% of the stock is owned by hedge funds and other institutional investors.

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About Arrowhead Pharmaceuticals

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.

Analyst Recommendations for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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