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

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

Several other brokerages also recently commented on ARWR. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. Citigroup lowered their price objective on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. StockNews.com upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, B. Riley reissued a “buy” rating and issued a $38.00 price target (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.13.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $16.29 on Tuesday. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09. The stock’s fifty day moving average is $13.33 and its 200 day moving average is $17.75. The stock has a market cap of $2.25 billion, a P/E ratio of -3.15 and a beta of 0.89. Arrowhead Pharmaceuticals has a one year low of $9.57 and a one year high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data 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 company had revenue of $542.71 million for the quarter, compared to the consensus estimate of $116.27 million. During the same quarter last year, the firm posted ($1.02) earnings per share. Sell-side analysts anticipate that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current year.

Insider Activity

In related news, CEO Christopher Richard Anzalone sold 133,333 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total transaction of $2,269,327.66. Following the sale, the chief executive officer now owns 3,773,802 shares in the company, valued at approximately $64,230,110.04. This represents a 3.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 275,880 shares of company stock worth $4,034,037. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 during the last quarter. Avoro Capital Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 25.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock valued at $208,889,000 after buying an additional 2,222,223 shares during the last quarter. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth approximately $38,622,000. Vanguard Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company’s stock worth $168,201,000 after acquiring an additional 1,018,273 shares during the last quarter. Finally, Farallon Capital Management LLC purchased a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at $11,821,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

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.