Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns “Outperform” Rating from Royal Bank Of Canada

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank Of Canada in a research note issued on Friday, Benzinga reports. They presently have a $100.00 target price on the biotechnology company’s stock. Royal Bank Of Canada‘s price target points to a potential upside of 115.75% from the stock’s previous close.

A number of other research analysts also recently weighed in on ARWR. B. Riley Financial upped their price target on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Chardan Capital reissued a “buy” rating and issued a $115.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, October 15th. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, October 15th. UBS Group began coverage on Arrowhead Pharmaceuticals in a report on Thursday, October 15th. They set a “buy” rating and a $109.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on Arrowhead Pharmaceuticals in a research report on Thursday, September 24th. They set a “neutral” rating and a $74.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.93.

Arrowhead Pharmaceuticals Stock Down 1.7%

Shares of ARWR stock traded down $0.80 on Friday, reaching $46.35. 571,940 shares of the company were exchanged, compared to its average volume of 2,247,319. The company has a market cap of $6.53 billion, a price-to-earnings ratio of -20.65 and a beta of 1.34. The company has a 50-day moving average of $64.09 and a 200-day moving average of $71.10. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. Arrowhead Pharmaceuticals has a one year low of $37.06 and a one year high of $95.49.

Insider Buying and Selling

In related news, Director Adeoye Y. Olukotun sold 2,000 shares of the company’s stock in a transaction 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 approximately $2,747,936. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael S. Perry sold 11,600 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total value of $1,012,680.00. Following the sale, 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 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

Several large investors have recently bought and sold shares of ARWR. Carolina Wealth Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 80.6% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 154 shares during the last quarter. Optiver Holding B.V. grew its stake in shares of Arrowhead Pharmaceuticals by 83.8% in the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 186 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 44.4% in the 3rd quarter. Harbour Investments Inc. now owns 754 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 232 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Arrowhead Pharmaceuticals by 285.1% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 248 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 7.1% in the second quarter. QRG Capital Management Inc. now owns 4,810 shares of the biotechnology company’s stock valued at $392,000 after purchasing an additional 317 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals is a biotechnology company that develops medicines using RNA interference (RNAi), a biological process that can reduce the production of specific proteins by silencing the genes that encode them. Its proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi treatments to targeted tissues. The company’s research and development programs address a range of conditions, including liver, cardiometabolic, pulmonary and neurological diseases. Its work centers on investigational medicines and drug-development partnerships.