Arrowhead Pharmaceuticals’ (ARWR) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report released on Tuesday,Benzinga reports. HC Wainwright currently has a $80.00 price target on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the company. B. Riley reiterated a “buy” rating and issued a $38.00 target price (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. Citigroup cut their target price on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.13.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock opened at $16.29 on Tuesday. The company has a market capitalization of $2.25 billion, a P/E ratio of -3.15 and a beta of 0.89. The company’s 50-day simple moving average is $13.33 and its two-hundred day simple moving average is $17.75. Arrowhead Pharmaceuticals has a one year low of $9.57 and a one year high of $30.41. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $2.81. The firm had revenue of $542.71 million during the quarter, compared to analysts’ expectations of $116.27 million. During the same quarter in the previous year, the firm posted ($1.02) EPS. As a group, equities analysts anticipate that Arrowhead Pharmaceuticals will post -2.42 EPS for the current year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 40,322 shares of Arrowhead Pharmaceuticals stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $10.07, for a total value of $406,042.54. Following the transaction, the chief executive officer now directly owns 4,022,055 shares of the company’s stock, valued at approximately $40,502,093.85. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 275,880 shares of company stock worth $4,034,037. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Focus Partners Wealth raised its position in shares of Arrowhead Pharmaceuticals by 1,339.5% in the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock valued at $207,000 after purchasing an additional 15,123 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Arrowhead Pharmaceuticals by 138.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company’s stock valued at $60,962,000 after purchasing an additional 2,774,933 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 6.9% in the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after buying an additional 979 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 34.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after buying an additional 447,456 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Arrowhead Pharmaceuticals by 40.9% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 26,969 shares of the biotechnology company’s stock valued at $343,000 after acquiring an additional 7,827 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.