Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) Director Michael S. Perry sold 85,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $30.00, for a total transaction of $2,550,000.00. Following the completion of the sale, the director now directly owns 121,000 shares of the company’s stock, valued at approximately $3,630,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
NASDAQ ARWR traded up $2.17 during mid-day trading on Wednesday, reaching $30.89. 1,814,086 shares of the company’s stock traded hands, compared to its average volume of 1,726,114. Arrowhead Pharmaceuticals Inc has a 1-year low of $10.41 and a 1-year high of $36.80. The company has a fifty day simple moving average of $30.86 and a 200-day simple moving average of $24.20. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -47.52 and a beta of 1.51.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.13). The business had revenue of $42.70 million for the quarter, compared to analysts’ expectations of $59.05 million. Arrowhead Pharmaceuticals had a return on equity of 26.27% and a net margin of 33.28%. Equities analysts expect that Arrowhead Pharmaceuticals Inc will post 0.73 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Arrowhead Pharmaceuticals by 94.5% during the 2nd quarter. BlackRock Inc. now owns 14,841,966 shares of the biotechnology company’s stock worth $393,313,000 after acquiring an additional 7,210,892 shares in the last quarter. Invesco Ltd. increased its position in Arrowhead Pharmaceuticals by 550.5% in the 2nd quarter. Invesco Ltd. now owns 4,820,607 shares of the biotechnology company’s stock valued at $127,747,000 after acquiring an additional 4,079,523 shares in the last quarter. Vanguard Group Inc. increased its position in Arrowhead Pharmaceuticals by 75.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,637,838 shares of the biotechnology company’s stock valued at $228,903,000 after acquiring an additional 3,712,392 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Arrowhead Pharmaceuticals by 184.3% in the second quarter. Bank of New York Mellon Corp now owns 1,063,856 shares of the biotechnology company’s stock worth $28,193,000 after acquiring an additional 689,592 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Arrowhead Pharmaceuticals by 362.9% in the second quarter. Renaissance Technologies LLC now owns 788,800 shares of the biotechnology company’s stock worth $20,903,000 after acquiring an additional 618,400 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on ARWR shares. Cantor Fitzgerald cut shares of Arrowhead Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research report on Thursday, June 27th. Piper Jaffray Companies raised their price target on shares of Arrowhead Pharmaceuticals from $33.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. TheStreet raised shares of Arrowhead Pharmaceuticals from a “d” rating to a “c+” rating in a report on Thursday, May 30th. B. Riley lifted their price target on shares of Arrowhead Pharmaceuticals from $32.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, ValuEngine lowered shares of Arrowhead Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $33.70.
Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.
Further Reading: Balanced Fund
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