Arrowhead Pharmaceuticals (NASDAQ:ARWR) Receives Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report published on Thursday, October 17th, Zacks.com reports.

A number of other research firms have also recently weighed in on ARWR. B. Riley increased their price objective on shares of Arrowhead Pharmaceuticals from $32.00 to $46.00 and gave the stock a buy rating in a report on Monday, August 19th. ValuEngine cut shares of Arrowhead Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 2nd. BidaskClub raised shares of Arrowhead Pharmaceuticals from a buy rating to a strong-buy rating in a report on Wednesday, October 9th. Robert W. Baird initiated coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 2nd. They issued an outperform rating and a $39.00 price objective on the stock. Finally, Piper Jaffray Companies reaffirmed an overweight rating and issued a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $41.60.

ARWR stock traded up $2.50 during midday trading on Thursday, hitting $42.10. The company’s stock had a trading volume of 1,165,500 shares, compared to its average volume of 1,657,320. Arrowhead Pharmaceuticals has a 52-week low of $10.41 and a 52-week high of $42.29. The firm has a 50-day simple moving average of $34.18 and a 200-day simple moving average of $28.47. The firm has a market capitalization of $3.77 billion, a P/E ratio of -64.77 and a beta of 1.68.

In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 37,884 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $40.85, for a total transaction of $1,547,561.40. Following the transaction, the chief financial officer now owns 351,420 shares of the company’s stock, valued at approximately $14,355,507. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher Richard Anzalone sold 66,645 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $28.20, for a total transaction of $1,879,389.00. Following the transaction, the chief executive officer now directly owns 2,146,153 shares in the company, valued at approximately $60,521,514.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 350,104 shares of company stock worth $10,783,025. 4.80% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of ARWR. BlackRock Inc. boosted its position 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 valued at $393,313,000 after purchasing an additional 7,210,892 shares in the last quarter. Invesco Ltd. boosted its position in shares of Arrowhead Pharmaceuticals by 550.5% during the 2nd quarter. Invesco Ltd. now owns 4,820,607 shares of the biotechnology company’s stock valued at $127,747,000 after purchasing an additional 4,079,523 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 75.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,637,838 shares of the biotechnology company’s stock valued at $228,903,000 after purchasing an additional 3,712,392 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Arrowhead Pharmaceuticals by 184.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,063,856 shares of the biotechnology company’s stock valued at $28,193,000 after purchasing an additional 689,592 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Arrowhead Pharmaceuticals by 362.9% during the 2nd quarter. Renaissance Technologies LLC now owns 788,800 shares of the biotechnology company’s stock valued at $20,903,000 after purchasing an additional 618,400 shares in the last quarter. Institutional investors own 72.26% 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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