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

HC Wainwright restated their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $120.00 target price on the biotechnology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Chardan Capital restated a “buy” rating and issued a $115.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and issued a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. 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 report on Wednesday, June 17th. Finally, Morgan Stanley increased their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.42.

Arrowhead Pharmaceuticals Stock Performance

ARWR opened at $86.49 on Tuesday. The business’s 50-day moving average price is $83.96 and its two-hundred day moving average price is $74.23. Arrowhead Pharmaceuticals has a 1 year low of $27.10 and a 1 year high of $95.49. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of -38.44 and a beta of 1.28. 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 quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The firm had revenue of $75.25 million for the quarter, compared to analyst estimates of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The firm’s quarterly revenue was up 171.0% on a year-over-year basis. During the same period in the prior year, the company earned ($1.26) earnings per share. Equities analysts expect that Arrowhead Pharmaceuticals will post -3.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael S. Perry sold 11,600 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 111,459 shares in the company, valued at $9,730,370.70. This represents a 9.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the sale, the director directly owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 3.60% of the stock is owned by company insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Arrowhead Pharmaceuticals in the second quarter valued at $1,208,838,000. California State Teachers Retirement System increased its stake in shares of Arrowhead Pharmaceuticals by 7,797.6% during the 2nd quarter. California State Teachers Retirement System now owns 11,397,217 shares of the biotechnology company’s stock worth $928,987,000 after purchasing an additional 11,252,904 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after purchasing an additional 133,921 shares during the last quarter. Baker BROS. Advisors LP raised its holdings in shares of Arrowhead Pharmaceuticals by 30.2% in the 4th quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock valued at $144,441,000 after purchasing an additional 504,883 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Arrowhead Pharmaceuticals by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock valued at $138,619,000 after purchasing an additional 6,264 shares during the period. 62.61% of the stock is owned by institutional investors.

About Arrowhead Pharmaceuticals

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.