Arrowhead Pharmaceuticals (NASDAQ:ARWR) Receives “Buy” Rating from HC Wainwright

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

ARWR has been the subject of a number of other research reports. Morgan Stanley raised Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $78.00 to $100.00 in a report on Tuesday, April 21st. Chardan Capital reiterated a “buy” rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Leerink Partners raised their price target on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, June 17th. Sanford C. Bernstein raised their price target on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.27.

Arrowhead Pharmaceuticals Stock Up 0.6%

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

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The company had revenue of $73.74 million for the quarter, compared to analysts’ expectations of $73.84 million. During the same period last year, the firm earned $2.75 earnings per share. The business’s revenue for the quarter was down 86.4% on a year-over-year basis. Equities research analysts predict that Arrowhead Pharmaceuticals will post -3 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total transaction of $228,333.60. Following the completion of the transaction, the director owned 52,012 shares of the company’s stock, valued at approximately $3,998,682.56. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was 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 in the company, valued at $11,623,271.75. This represents a 7.44% decrease in their ownership of the stock. 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. Insiders have sold a total of 26,065 shares of company stock valued at $1,912,662 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. acquired a new position in shares of Arrowhead Pharmaceuticals during the first quarter worth approximately $1,500,000. Empowered Funds LLC grew its stake in shares of Arrowhead Pharmaceuticals by 661.6% in the first quarter. Empowered Funds LLC now owns 137,220 shares of the biotechnology company’s stock worth $8,604,000 after purchasing an additional 119,202 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in Arrowhead Pharmaceuticals by 1.8% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 18,814 shares of the biotechnology company’s stock worth $1,180,000 after purchasing an additional 335 shares during the period. Parallel Advisors LLC grew its position in Arrowhead Pharmaceuticals by 407.1% in the 1st quarter. Parallel Advisors LLC now owns 1,004 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 806 shares in the last quarter. Finally, Optiver Holding B.V. increased its stake in Arrowhead Pharmaceuticals by 83.8% during the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.