Arrowhead Pharmaceuticals (NASDAQ:ARWR) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note released on Thursday, MarketBeat reports. The firm issued a neutral rating and a $74.00 price target on the biotechnology company’s stock.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Chardan Capital reaffirmed a “buy” rating and set a $115.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 31st. Citigroup initiated coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 8th. They set a “buy” rating and a $108.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 1st. Finally, Stifel Nicolaus began coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.31.

Arrowhead Pharmaceuticals Trading Down 0.2%

NASDAQ ARWR opened at $65.92 on Thursday. Arrowhead Pharmaceuticals has a fifty-two week low of $31.45 and a fifty-two week high of $95.49. 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 50 day simple moving average of $82.45 and a two-hundred day simple moving average of $75.43. The stock has a market cap of $9.29 billion, a P/E ratio of -29.30 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its 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 business had revenue of $75.25 million for the quarter, compared to analysts’ expectations of $44.17 million. During the same period last year, the firm posted ($1.26) earnings per share. Arrowhead Pharmaceuticals’s quarterly revenue was up 171.0% on a year-over-year basis. On average, analysts forecast that Arrowhead Pharmaceuticals will post -3.62 earnings per share for the current year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Michael Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the completion of the transaction, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adeoye Olukotun sold 2,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the sale, the director directly owned 31,600 shares in the company, valued at $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 owned by company insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ARWR. Assenagon Asset Management S.A. grew its position in Arrowhead Pharmaceuticals by 243.8% during the second quarter. Assenagon Asset Management S.A. now owns 201,927 shares of the biotechnology company’s stock valued at $16,459,000 after buying an additional 143,192 shares during the period. Siren L.L.C. increased its stake in shares of Arrowhead Pharmaceuticals by 7.7% in the first quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company’s stock worth $101,290,000 after purchasing an additional 115,000 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 661.6% during the 1st quarter. Empowered Funds LLC now owns 137,220 shares of the biotechnology company’s stock valued at $8,604,000 after buying an additional 119,202 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Arrowhead Pharmaceuticals in the 1st quarter worth $751,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth $2,541,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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.