B. Riley Initiates Coverage on Arrowhead Pharmaceuticals (ARWR)
B. Riley initiated coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note released on Friday, MarketBeat.com reports. The brokerage issued a neutral rating and a $3.00 target price on the biotechnology company’s stock.
A number of other research analysts have also recently weighed in on the stock. BidaskClub raised shares of Arrowhead Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, December 27th. Cantor Fitzgerald set a $2.00 price target on shares of Arrowhead Pharmaceuticals and gave the company a hold rating in a research report on Tuesday, December 12th. ValuEngine raised shares of Arrowhead Pharmaceuticals from a strong sell rating to a sell rating in a research report on Thursday, November 30th. Piper Jaffray Companies raised shares of Arrowhead Pharmaceuticals from a neutral rating to an overweight rating and set a $5.50 price target on the stock in a research report on Monday, November 27th. Finally, William Blair raised shares of Arrowhead Pharmaceuticals from a market perform rating to an outperform rating in a research report on Monday, September 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $3.13.
Arrowhead Pharmaceuticals (NASDAQ ARWR) opened at $4.55 on Friday. The firm has a market cap of $340.47, a P/E ratio of -9.68 and a beta of 1.79. 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 12-month low of $1.42 and a 12-month high of $5.23.
In other Arrowhead Pharmaceuticals news, COO Bruce D. Given sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, January 1st. The shares were sold at an average price of $3.69, for a total transaction of $73,800.00. Following the transaction, the chief operating officer now directly owns 948,356 shares of the company’s stock, valued at $3,499,433.64. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.57% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Arrowhead Pharmaceuticals by 10.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 171,249 shares of the biotechnology company’s stock valued at $742,000 after purchasing an additional 16,103 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Arrowhead Pharmaceuticals by 252.2% during the third quarter. Dimensional Fund Advisors LP now owns 44,358 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 31,765 shares during the period. Virtu KCG Holdings LLC raised its stake in shares of Arrowhead Pharmaceuticals by 115.6% during the second quarter. Virtu KCG Holdings LLC now owns 99,267 shares of the biotechnology company’s stock valued at $161,000 after purchasing an additional 53,215 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of Arrowhead Pharmaceuticals during the third quarter valued at approximately $1,958,000. Finally, ING Groep NV purchased a new stake in shares of Arrowhead Pharmaceuticals during the third quarter valued at approximately $3,500,000. Institutional investors own 20.05% of the company’s stock.
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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.
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