On September 19, 2023, Citigroup analysts began coverage of Arrowhead Pharmaceuticals (NASDAQ:ARWR) with a “neutral” rating and a price target of $33.00, as reported by Stock Target Advisor. This suggests a potential upside of 17.31% from the stock’s previous closing price.
Arrowhead Pharmaceuticals’ stock opened at $28.13 on Tuesday, with a 50-day moving average of $30.88 and a 200-day moving average of $31.92. The company has seen a fifty-two week low of $23.09 and a fifty-two week high of $42.48. With a market capitalization of $3.02 billion, Arrowhead Pharmaceuticals operates in the biotechnology sector with a P/E ratio of -16.45 and a beta of 1.00.
Several hedge funds have made recent adjustments to their positions in the company. Norges Bank acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $60,235,000. State Street Corp also increased its stake in the company by 19.2% during the second quarter and currently owns 5,582,746 shares worth $196,568,000 after acquiring an additional 900,791 shares last quarter. Similarly, Nomura Holdings Inc.’s holdings in Arrowhead Pharmaceuticals saw substantial growth as they added an additional 633,827 shares during the period resulting in total ownership of 649,548 shares valued at around $26,302,000 as of the fourth quarter.
Furthermore,Driehaus Capital Management LLC entered into a new position within Arrowhead Pharmaceuticals in the second quarter worth approximately $18,103k while Millennium Management LLC experienced significant growth in its holdings by acquiring an additional 496,910 shares during the last quarter which resulted in total ownership reaches up to approximatedly575624 shares worth about$23-347-000.
On the earnings front, Arrowhead Pharmaceuticals reported its quarterly earnings data on August 7th, 2023. The biotechnology company fell short of analysts’ consensus estimates with an earnings per share (EPS) of ($0.96), as compared to the projected ($0.58). Revenue for the quarter came in at $15.83 million, considerably lower than the estimated $45.42 million. Moreover,the company recorded a negative return on equity of 42.79% and a negative net margin of 69.38%. These figures indicate a 51.2% decline in revenue year-over-year for the same quarter compared to last year’s performancein addition, last year during the same period, Arrowhead Pharmaceuticals’ EPS stood at ($0.68). As the current fiscal year progresses, equities analysts anticipate that Arrowhead Pharmaceuticals will post -1.67 EPS.
In conclusion, Citigroup’s initiation of coverage suggests a less enthusiastic outlook for Arrowhead Pharmaceuticals with a “neutral” rating and price target projection for its stock indicating only modest potential upside growth opportunities based on recent movements and financial performance.-
Xponential Fitness, Inc.
Updated on: 19/09/2023
Debt to equity ratio: Sell
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Sell
DCF: Strong Buy
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Positive Ratings and Insider Stock Transactions Showcase Arrowhead Pharmaceuticals’ Market Activity
Arrowhead Pharmaceuticals (ARWR) has recently received positive ratings from several equities analysts. B. Riley restated a “buy” rating and issued a target price of $55.00 for the company’s shares in a research report on July 20th, 2023. TD Cowen also provided coverage on Arrowhead Pharmaceuticals with an “outperform” rating on the stock on July 21st, 2023. HC Wainwright reaffirmed a “buy” rating and set a target price of $90.00 on August 9th, 2023. Royal Bank of Canada also maintained an “outperform” rating with a $60.00 target price on August 8th, 2023. Lastly, Cantor Fitzgerald reissued an “overweight” rating and issued a price target of $47.00 (previously $79.00) in a research note on August 8th, 2023.
The average rating for Arrowhead Pharmaceuticals according to Bloomberg.com is currently labeled as “Moderate Buy,” based on data collected from various analysts’ reports. The average price target for the stock stands at $54.53.
In other news regarding Arrowhead Pharmaceuticals, Chief Financial Officer Kenneth Allen Myszkowski sold 15,000 shares of the company’s stock in a transaction that occurred on June 27th, 2023. The shares were sold at an average price of $36.20, resulting in a total value of $543,000.00 for the transaction. Following this sale, the CFO now holds a direct stake of 381,704 shares in the company with an estimated value of approximately $13,817,684.80.
Further details related to this sale can be accessed through the Securities & Exchange Commission filing via the provided hyperlink.
Additionally, it should be noted that Insider James C. Hamilton sold 3,000 shares of Arrowhead Pharmaceuticals stock in a transaction on June 30th, 2023. The shares were sold at an average price of $35.53, amounting to a total value of $106,590.00. The insider now holds approximately 188,484 shares in the company with an estimated value of about $6,696,836.52.
Overall, corporate insiders have sold approximately 26,925 shares of Arrowhead Pharmaceuticals stock in the last quarter alone with a total worth of $964,732. This accounts for roughly 5% ownership stake held by insiders as recorded until September 19th, 2023.
These recent insights into Arrowhead Pharmaceuticals’ rating and stock transactions contribute to the overall understanding of the company’s standing and activity within the market. It provides investors and interested parties with valuable information necessary for making informed decisions.