Arrowhead Research Corp. (ARWR) Cut to Neutral at Piper Jaffray Cos.
Arrowhead Research Corp. (NASDAQ:ARWR) was downgraded by Piper Jaffray Cos. to a “neutral” rating in a research report issued on Wednesday.
A number of other equities analysts also recently weighed in on ARWR. Chardan Capital downgraded Arrowhead Research Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.00 to $2.00 in a report on Wednesday. Cantor Fitzgerald downgraded Arrowhead Research Corp. to a “hold” rating in a report on Wednesday. Jefferies Group dropped their target price on Arrowhead Research Corp. from $6.50 to $5.00 and set a “hold” rating on the stock in a report on Thursday, November 10th. Finally, William Blair began coverage on Arrowhead Research Corp. in a report on Friday, August 19th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.81.
Shares of Arrowhead Research Corp. (NASDAQ:ARWR) opened at 4.39 on Wednesday. Arrowhead Research Corp. has a 1-year low of $3.07 and a 1-year high of $8.22. The stock’s market cap is $266.69 million. The stock’s 50 day moving average is $5.64 and its 200-day moving average is $6.10.
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In related news, Director Douglas B. Given sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $6.72, for a total value of $80,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in ARWR. BlackRock Fund Advisors boosted its stake in shares of Arrowhead Research Corp. by 6.4% in the third quarter. BlackRock Fund Advisors now owns 2,490,393 shares of the company’s stock valued at $18,304,000 after buying an additional 150,805 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Arrowhead Research Corp. by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,446,346 shares of the company’s stock worth $13,015,000 after buying an additional 62,229 shares during the last quarter. Baker BROS. Advisors LP bought a new stake in shares of Arrowhead Research Corp. during the third quarter worth about $13,649,000. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Arrowhead Research Corp. by 11.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,715,221 shares of the company’s stock worth $12,607,000 after buying an additional 171,165 shares during the last quarter. Finally, RA Capital Management LLC bought a new stake in shares of Arrowhead Research Corp. during the third quarter worth about $11,212,000. 43.28% of the stock is owned by institutional investors and hedge funds.
Arrowhead Research Corp. Company Profile
Arrowhead Pharmaceuticals, Inc, formerly Arrowhead Research Corporation, is a biopharmaceutical company. The Company is engaged in developing RiboNucleic Acid interference (RNAi) therapeutics. Its products include ARC-520, ARC-521, ARC-AAT, ARC-F12, ARC-HIF2 and ARC-LPA. ARC-520 is designed to treat chronic hepatitis B virus (HBV) infection.
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