Arrowhead Pharmaceuticals (NASDAQ:ARWR) Rating Increased to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Chardan Capital reiterated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. Citigroup dropped their target price on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Wall Street Zen cut Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.71.

Arrowhead Pharmaceuticals Stock Up 2.9%

Arrowhead Pharmaceuticals stock opened at $16.20 on Monday. Arrowhead Pharmaceuticals has a fifty-two week low of $9.57 and a fifty-two week high of $29.47. The business’s 50-day simple moving average is $16.40 and its two-hundred day simple moving average is $16.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.15 and a current ratio of 5.15. The company has a market cap of $2.24 billion, a PE ratio of -11.57, a PEG ratio of 18.51 and a beta of 0.93.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ARWR. GAMMA Investing LLC grew its stake in Arrowhead Pharmaceuticals by 297.6% in the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 1,628 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $49,000. CWM LLC increased its stake in shares of Arrowhead Pharmaceuticals by 134.3% during the first quarter. CWM LLC now owns 4,401 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 2,523 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Arrowhead Pharmaceuticals by 29.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,335 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 1,214 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at about $137,000. 62.61% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Company Profile

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.