B. Riley Financial Boosts Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target to $123.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective upped by equities researchers at B. Riley Financial from $101.00 to $123.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. B. Riley Financial’s price objective suggests a potential upside of 41.61% from the stock’s current price.

A number of other brokerages also recently issued reports on ARWR. Sanford C. Bernstein boosted their price target on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Chardan Capital raised their price objective on shares of Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. HC Wainwright lifted their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $115.00 and gave the company a “buy” rating in a report on Monday. Royal Bank Of Canada boosted their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Piper Sandler reissued an “overweight” rating and set a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.92.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR traded up $0.64 during trading on Thursday, reaching $86.86. 521,607 shares of the company traded hands, compared to its average volume of 2,475,697. The stock has a market cap of $12.23 billion, a P/E ratio of -40.41 and a beta of 1.26. The firm’s fifty day simple moving average is $78.61 and its 200 day simple moving average is $70.41. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals has a 12-month low of $15.01 and a 12-month high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. The firm had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The company’s revenue was down 86.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.75 earnings per share. As a group, research analysts anticipate that Arrowhead Pharmaceuticals will post -3.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total value of $228,333.60. Following the sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Arrowhead Pharmaceuticals by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after acquiring an additional 133,921 shares during the period. Baker BROS. Advisors LP lifted its stake in 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 buying an additional 504,883 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in 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 worth $138,619,000 after buying an additional 6,264 shares during the last quarter. Fred Alger Management LLC boosted its holdings in Arrowhead Pharmaceuticals by 497.4% in the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after buying an additional 1,526,164 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Arrowhead Pharmaceuticals by 34.6% during the 1st 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 in the last quarter. 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.