Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $115.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective lifted by Chardan Capital from $90.00 to $115.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $100.00 in a research report on Tuesday, April 21st. Sanford C. Bernstein upped their target price on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 1st. Weiss Ratings lowered Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $93.83.

Arrowhead Pharmaceuticals Trading Down 1.4%

NASDAQ ARWR opened at $85.60 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23. The firm’s fifty day moving average price is $77.94 and its 200 day moving average price is $69.97. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of -39.81 and a beta of 1.26. Arrowhead Pharmaceuticals has a 12 month low of $15.01 and a 12 month high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly 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 firm had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. During the same period last year, the business earned $2.75 EPS. Arrowhead Pharmaceuticals’s revenue for the quarter was down 86.4% compared to the same quarter last year. On average, sell-side analysts expect that Arrowhead Pharmaceuticals will post -3.08 earnings per share for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu sold 2,970 shares of the company’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 transaction of $228,333.60. Following the completion of the sale, the director owned 52,012 shares in the company, valued at $3,998,682.56. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Arrowhead Pharmaceuticals by 285.1% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 248 shares during the period. Carolina Wealth Advisors LLC increased its stake in shares of Arrowhead Pharmaceuticals by 80.6% during the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 154 shares during the period. Tsfg LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $25,000. Optiver Holding B.V. raised its holdings in Arrowhead Pharmaceuticals by 83.8% during the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 186 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at about $32,000. 62.61% of the stock is owned by institutional investors and hedge funds.

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.