Arrowhead Pharmaceuticals (NASDAQ:ARWR) Research Coverage Started at Citigroup

Citigroup began coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note published on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $108.00 price objective on the biotechnology company’s stock.

Other research analysts have also issued research reports about the company. Morgan Stanley boosted their price target on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Stifel Nicolaus began coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They set a “buy” rating and a $98.00 price objective on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.15.

Arrowhead Pharmaceuticals Stock Performance

ARWR stock opened at $82.76 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 5.90 and a current ratio of 5.90. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of -36.78 and a beta of 1.28. Arrowhead Pharmaceuticals has a 1 year low of $27.94 and a 1 year high of $95.49. The stock’s fifty day moving average is $84.32 and its two-hundred day moving average is $74.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The firm had revenue of $75.25 million for the quarter, compared to analyst estimates of $44.17 million. During the same period last year, the firm posted ($1.26) EPS. The business’s revenue was up 171.0% compared to the same quarter last year. On average, research analysts predict that Arrowhead Pharmaceuticals will post -3.62 EPS for the current year.

Insider Activity

In other news, Director Michael Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on 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. The trade was a 9.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Adeoye Olukotun sold 2,000 shares of the business’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 completion of the sale, the director owned 31,600 shares in the company, valued at $2,747,936. The trade was a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARWR. BlackRock Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth $1,208,838,000. California State Teachers Retirement System boosted its stake in Arrowhead Pharmaceuticals by 7,797.6% in the 2nd quarter. California State Teachers Retirement System now owns 11,397,217 shares of the biotechnology company’s stock worth $928,987,000 after purchasing an additional 11,252,904 shares during the period. Geode Capital Management LLC boosted its stake in Arrowhead Pharmaceuticals by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after purchasing an additional 133,921 shares during the period. Baker BROS. Advisors LP grew its position in Arrowhead Pharmaceuticals by 30.2% during the 4th quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock worth $144,441,000 after purchasing an additional 504,883 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Arrowhead Pharmaceuticals by 0.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock worth $138,619,000 after purchasing an additional 6,264 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc (NASDAQ:ARWR) is a biopharmaceutical company focused on developing medicines that silence disease-causing genes. The company uses RNA interference (RNAi), a biological process that reduces the production of specific proteins, to target conditions that may be difficult to treat with conventional drugs.

Arrowhead’s proprietary TRiM platform is designed to deliver RNAi-based therapies to different tissues, including the liver, lungs and other organs. Its investigational pipeline has included candidates for cardiovascular and metabolic diseases, liver disorders, pulmonary conditions and inflammatory diseases.