Arrowhead Pharmaceuticals’ (ARWR) Buy Rating Reiterated at HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They presently have a $120.00 price target on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 45.65% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Sanford C. Bernstein lifted their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $98.42.

Arrowhead Pharmaceuticals Trading Down 3.0%

NASDAQ:ARWR opened at $82.39 on Tuesday. Arrowhead Pharmaceuticals has a one year low of $21.61 and a one year high of $95.49. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of -36.62 and a beta of 1.27. The business has a fifty day moving average price of $83.65 and a 200-day moving average price of $73.76.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The firm had revenue of $75.25 million during the quarter, compared to analysts’ expectations of $44.17 million. During the same period last year, the company earned ($1.26) earnings per share. The business’s revenue for the quarter was up 171.0% on a year-over-year basis. Sell-side analysts forecast that Arrowhead Pharmaceuticals will post -3.51 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael S. Perry sold 11,600 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the transaction, the director owned 111,459 shares of the company’s stock, valued at $9,730,370.70. This trade represents a 9.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the transaction, the director directly owned 31,600 shares in the company, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds have recently modified their holdings of ARWR. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $3,533,000. California State Teachers Retirement System raised its stake in shares of Arrowhead Pharmaceuticals by 7,797.6% during the 2nd quarter. California State Teachers Retirement System now owns 11,397,217 shares of the biotechnology company’s stock valued at $928,987,000 after buying an additional 11,252,904 shares during the last quarter. Washington Trust Advisors Inc. boosted its stake in shares of Arrowhead Pharmaceuticals by 3.6% in the second quarter. Washington Trust Advisors Inc. now owns 26,185 shares of the biotechnology company’s stock worth $2,134,000 after buying an additional 911 shares during the last quarter. Compass Financial Management LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter valued at approximately $179,000. Finally, AlphaGrep UK Ltd purchased a new stake in Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $375,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.