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

HC Wainwright reaffirmed their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $80.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Sanford C. Bernstein decreased their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. Citigroup reduced their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $18.57 on Wednesday. The stock’s 50 day moving average price is $20.14 and its 200 day moving average price is $21.23. The firm has a market cap of $2.32 billion, a P/E ratio of -3.70 and a beta of 0.95. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $36.72.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.97). On average, sell-side analysts expect that Arrowhead Pharmaceuticals will post -3.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Christopher Richard Anzalone sold 11,520 shares of Arrowhead Pharmaceuticals stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total transaction of $219,456.00. Following the transaction, the chief executive officer now owns 3,764,252 shares in the company, valued at approximately $71,709,000.60. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Adeoye Y. Olukotun sold 2,850 shares of the company’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $20.00, for a total transaction of $57,000.00. Following the sale, the director now directly owns 36,740 shares of the company’s stock, valued at approximately $734,800. This trade represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,432 shares of company stock worth $2,957,986 over the last three months. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $38,000. Values First Advisors Inc. purchased a new position in Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $52,000. Van ECK Associates Corp boosted its holdings in Arrowhead Pharmaceuticals by 72.3% in the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 1,250 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Arrowhead Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 788 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 1,644 shares during the period. Institutional investors and hedge funds 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.