Svb Leerink Begins Coverage on Arrowhead Pharmaceuticals (NASDAQ:ARWR)
Svb Leerink assumed coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The firm issued an underperform rating and a $32.00 target price on the biotechnology company’s stock. Svb Leerink also issued estimates for Arrowhead Pharmaceuticals’ Q1 2020 earnings at $0.35 EPS, Q2 2020 earnings at $0.34 EPS, Q3 2020 earnings at $0.34 EPS, Q4 2020 earnings at $0.33 EPS, FY2020 earnings at $1.36 EPS, FY2021 earnings at $0.66 EPS and FY2022 earnings at $1.56 EPS.
ARWR has been the topic of a number of other research reports. S&P Equity Research reaffirmed a buy rating on shares of Arrowhead Pharmaceuticals in a report on Tuesday, November 26th. ValuEngine lowered Arrowhead Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 2nd. Robert W. Baird raised Arrowhead Pharmaceuticals from a neutral rating to an outperform rating and lifted their price objective for the company from $39.00 to $70.00 in a report on Monday, November 25th. Leerink Swann started coverage on Arrowhead Pharmaceuticals in a report on Tuesday. They issued an underperform rating and a $32.00 price objective on the stock. Finally, Oppenheimer started coverage on Arrowhead Pharmaceuticals in a report on Thursday, December 12th. They issued a hold rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $61.14.
Arrowhead Pharmaceuticals stock traded down $1.81 during midday trading on Tuesday, reaching $44.40. The company’s stock had a trading volume of 89,056 shares, compared to its average volume of 1,603,233. The business has a 50-day simple moving average of $61.95 and a 200-day simple moving average of $42.25. Arrowhead Pharmaceuticals has a fifty-two week low of $12.56 and a fifty-two week high of $73.72. The company has a market cap of $4.55 billion, a P/E ratio of 64.20 and a beta of 1.97.
In other news, CFO Kenneth Allen Myszkowski sold 37,884 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $40.85, for a total transaction of $1,547,561.40. Following the sale, the chief financial officer now owns 351,420 shares of the company’s stock, valued at approximately $14,355,507. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Bruce D. Given sold 35,613 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $60.13, for a total value of $2,141,409.69. Following the transaction, the chief operating officer now owns 882,759 shares of the company’s stock, valued at $53,080,298.67. The disclosure for this sale can be found here. Insiders have sold a total of 286,402 shares of company stock worth $17,138,919 in the last three months. Corporate insiders own 4.80% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $275,000. Mason Street Advisors LLC raised its holdings in Arrowhead Pharmaceuticals by 2.2% in the 3rd quarter. Mason Street Advisors LLC now owns 32,360 shares of the biotechnology company’s stock valued at $912,000 after acquiring an additional 711 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Arrowhead Pharmaceuticals by 5.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 33,800 shares of the biotechnology company’s stock valued at $952,000 after acquiring an additional 1,753 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in Arrowhead Pharmaceuticals by 60.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 80,302 shares of the biotechnology company’s stock valued at $2,128,000 after acquiring an additional 30,147 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new position in Arrowhead Pharmaceuticals in the 3rd quarter valued at $620,000. Hedge funds and other institutional investors own 70.33% of the company’s stock.
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.
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