Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Rating Reaffirmed as “Buy” by HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They currently have a $120.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 105.59% from the company’s current price.

Several other research firms also recently issued reports on ARWR. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 31st. Leerink Partners boosted their price objective on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 17th. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. B. Riley Financial increased their price objective on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Citigroup started coverage on Arrowhead Pharmaceuticals in a research report on Tuesday, September 8th. They set a “buy” rating and a $108.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $98.31.

Arrowhead Pharmaceuticals Stock Up 0.4%

Shares of NASDAQ ARWR opened at $58.37 on Thursday. The company has a 50 day simple moving average of $76.71 and a 200 day simple moving average of $75.99. The firm has a market cap of $8.22 billion, a PE ratio of -25.94 and a beta of 1.29. Arrowhead Pharmaceuticals has a 1 year low of $36.02 and a 1 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.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing the consensus estimate 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 business had revenue of $75.25 million for the quarter, compared to analyst estimates of $44.17 million. During the same quarter in the prior year, the business earned ($1.26) earnings per share. The firm’s quarterly revenue was up 171.0% on a year-over-year basis. On average, research analysts forecast that Arrowhead Pharmaceuticals will post -3.62 EPS for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, Director Michael S. Perry sold 11,600 shares of the company’s stock in a transaction 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 sale, the director directly owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. This represents a 9.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the 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 sale, the director owned 31,600 shares of the company’s stock, 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 company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $1,208,838,000. Baker BROS. Advisors LP increased its holdings in Arrowhead Pharmaceuticals by 30.2% in the fourth 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. Siren L.L.C. increased its holdings in 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. Janus Henderson Group PLC increased its holdings in Arrowhead Pharmaceuticals by 12.2% in the first quarter. Janus Henderson Group PLC now owns 1,436,990 shares of the biotechnology company’s stock worth $90,119,000 after purchasing an additional 156,544 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Arrowhead Pharmaceuticals by 23.8% in the first quarter. Pictet Asset Management Holding SA now owns 1,273,266 shares of the biotechnology company’s stock valued at $79,612,000 after buying an additional 244,530 shares during the period. 62.61% of the stock is owned by institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes. Its research is based primarily on RNA interference (RNAi), a biological process that reduces the production of specific proteins by targeting messenger RNA before it can be used to make those proteins.

The company uses its proprietary Targeted RNAi Molecule (TRiM) platform to design and deliver RNAi therapeutics to selected tissues, including the liver and lungs.