Arrowhead Pharmaceuticals (NASDAQ:ARWR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

ARWR has been the subject of several other research reports. Citigroup decreased their price objective on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Chardan Capital restated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. Finally, B. Riley reiterated a “buy” rating and set a $38.00 target price (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $43.71.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $15.70 on Friday. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals has a 12 month low of $9.57 and a 12 month high of $30.41. The company has a market cap of $2.17 billion, a P/E ratio of -3.04 and a beta of 0.96. The firm has a fifty day moving average price of $14.37 and a 200 day moving average price of $17.06.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $2.81. The company had revenue of $542.71 million during the quarter, compared to analyst estimates of $116.27 million. During the same quarter in the prior year, the company earned ($1.02) EPS. Sell-side analysts predict that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 40,322 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $10.07, for a total transaction of $406,042.54. Following the completion of the transaction, the chief executive officer now directly owns 4,022,055 shares of the company’s stock, valued at $40,502,093.85. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ARWR. Empowered Funds LLC purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter worth about $268,000. Van ECK Associates Corp increased its holdings in Arrowhead Pharmaceuticals by 72.3% in the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 1,250 shares in the last quarter. Rhumbline Advisers increased its holdings in Arrowhead Pharmaceuticals by 2.1% in the fourth quarter. Rhumbline Advisers now owns 380,344 shares of the biotechnology company’s stock valued at $7,150,000 after buying an additional 7,912 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Arrowhead Pharmaceuticals by 40.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 112,858 shares of the biotechnology company’s stock valued at $2,122,000 after buying an additional 32,551 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Arrowhead Pharmaceuticals by 15.4% in the fourth quarter. Handelsbanken Fonder AB now owns 41,200 shares of the biotechnology company’s stock valued at $775,000 after buying an additional 5,500 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.