HC Wainwright Reaffirms Buy Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Free Report)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $100.00 target price on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 21.96% from the stock’s previous close.

Several other analysts have also recently weighed in on ARWR. Leerink Partners upped 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. Sanford C. Bernstein raised their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Chardan Capital reissued a “buy” rating and issued a $90.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Royal Bank Of Canada upped their price target on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. started coverage on Arrowhead Pharmaceuticals in a report on Friday, May 1st. They issued an “overweight” rating and a $88.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.27.

Get Our Latest Stock Analysis on ARWR

Arrowhead Pharmaceuticals Stock Up 0.6%

Shares of Arrowhead Pharmaceuticals stock traded up $0.48 during midday trading on Wednesday, reaching $81.99. 676,769 shares of the company’s stock traded hands, compared to its average volume of 2,490,799. Arrowhead Pharmaceuticals has a 52 week low of $14.30 and a 52 week high of $84.55. The company’s 50 day simple moving average is $76.09 and its 200 day simple moving average is $68.51. The company has a market cap of $11.55 billion, a price-to-earnings ratio of -38.18 and a beta of 1.28. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.17. The company had revenue of $73.74 million during the quarter, compared to analysts’ expectations of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.Arrowhead Pharmaceuticals’s revenue for the quarter was down 86.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.75 earnings per share. Equities analysts expect that Arrowhead Pharmaceuticals will post -3 earnings per share for the current fiscal year.

Insider Activity

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 10,000 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the insider directly owned 226,958 shares in the company, valued at $17,021,850. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the sale, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at approximately $11,623,271.75. The trade was a 7.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 26,065 shares of company stock valued at $1,912,662. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its stake in Arrowhead Pharmaceuticals by 3,142.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after purchasing an additional 2,017,489 shares during the period. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $113,159,000. Fred Alger Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 497.4% during the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after purchasing an additional 1,526,164 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the 1st quarter valued at $64,988,000. Finally, Deerfield Management Company L.P. bought a new stake in Arrowhead Pharmaceuticals during the third quarter worth about $34,249,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

(Get Free Report)

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.

See Also

Analyst Recommendations for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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