Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Outperform Rating from Royal Bank of Canada

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $42.00 target price on the biotechnology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 126.17% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Chardan Capital reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, January 23rd. Sanford C. Bernstein reduced their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Finally, Piper Sandler reduced their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.33.

Arrowhead Pharmaceuticals Price Performance

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

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results 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). As a group, equities research analysts anticipate that Arrowhead Pharmaceuticals will post -3.4 earnings per share for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, Director William D. Waddill sold 3,748 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the transaction, the director now directly owns 44,125 shares of the company’s stock, valued at $966,337.50. This represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James C. Hamilton sold 32,729 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $648,688.78. Following the completion of the sale, the insider now owns 272,122 shares of the company’s stock, valued at approximately $5,393,458.04. This represents a 10.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,432 shares of company stock valued at $2,957,986 over the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently modified their holdings of ARWR. World Investment Advisors LLC raised its position in Arrowhead Pharmaceuticals by 3.8% in the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock worth $371,000 after acquiring an additional 700 shares in the last quarter. Xponance Inc. raised its position in Arrowhead Pharmaceuticals by 4.5% in the fourth quarter. Xponance Inc. now owns 17,400 shares of the biotechnology company’s stock worth $327,000 after acquiring an additional 744 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 worth $88,000 after acquiring an additional 788 shares in the last quarter. Wellington Management Group LLP grew its holdings in Arrowhead Pharmaceuticals by 1.5% in the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after purchasing an additional 886 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Arrowhead Pharmaceuticals by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 980 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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.