Arrowhead Pharmaceuticals (NASDAQ:ARWR) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) from a sell rating to a hold rating in a research note released on Thursday.

Other research analysts have also recently issued research reports about the stock. Chardan Capital reiterated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. B. Riley reiterated a “buy” rating and set a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Citigroup cut their price objective 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. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.13.

Arrowhead Pharmaceuticals Trading Up 0.5%

Shares of ARWR opened at $15.39 on Thursday. The company’s fifty day moving average is $13.32 and its 200 day moving average is $17.70. Arrowhead Pharmaceuticals has a fifty-two week low of $9.57 and a fifty-two week high of $30.41. The stock has a market capitalization of $2.13 billion, a PE ratio of -2.98 and a beta of 0.89. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current 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 for the quarter, topping the consensus estimate of ($0.06) by $2.81. The business had revenue of $542.71 million during the quarter, compared to the consensus estimate of $116.27 million. During the same quarter in the prior year, the firm posted ($1.02) EPS. Sell-side analysts expect that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher Richard Anzalone sold 133,333 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $17.02, for a total transaction of $2,269,327.66. Following the completion of the sale, the chief executive officer now directly owns 3,773,802 shares of the company’s stock, valued at approximately $64,230,110.04. The trade was a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 275,880 shares of company stock valued at $4,034,037. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Arrowhead Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Arrowhead Pharmaceuticals by 8.4% during the first quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company’s stock valued at $168,201,000 after purchasing an additional 1,018,273 shares during the period. Avoro Capital Advisors LLC lifted its stake in Arrowhead Pharmaceuticals by 25.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock worth $208,889,000 after acquiring an additional 2,222,223 shares during the period. Slate Path Capital LP lifted its stake in Arrowhead Pharmaceuticals by 7.1% in the fourth quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company’s stock worth $98,362,000 after acquiring an additional 347,000 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Arrowhead Pharmaceuticals by 138.0% in the first 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 worth $60,962,000 after acquiring an additional 2,774,933 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Arrowhead Pharmaceuticals by 0.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,528,982 shares of the biotechnology company’s stock worth $32,220,000 after acquiring an additional 21,686 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.