HC Wainwright Reaffirms “Buy” Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reiterated by HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $120.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 45.65% from the stock’s previous close.

A number of other research firms have also issued reports on ARWR. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. B. Riley Financial upped their price objective on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Piper Sandler reiterated an “overweight” rating and issued a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Morgan Stanley boosted their target price on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Stifel Nicolaus assumed coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.42.

Arrowhead Pharmaceuticals Trading Down 3.0%

ARWR opened at $82.39 on Tuesday. Arrowhead Pharmaceuticals has a 1-year low of $21.61 and a 1-year high of $95.49. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of -36.62 and a beta of 1.27. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. The company’s 50 day simple moving average is $83.65 and its two-hundred day simple moving average is $73.76.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The firm had revenue of $75.25 million for the quarter, compared to analysts’ expectations of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.Arrowhead Pharmaceuticals’s revenue for the quarter was up 171.0% on a year-over-year basis. During the same period last year, the firm earned ($1.26) earnings per share. Analysts expect that Arrowhead Pharmaceuticals will post -3.51 EPS for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, Director Michael S. Perry sold 11,600 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the completion of the transaction, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the transaction, the director directly owned 31,600 shares in the company, valued at $2,747,936. This trade represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Carolina Wealth Advisors LLC lifted its stake in 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 purchasing an additional 154 shares during the last quarter. First Horizon Corp boosted its holdings in shares of Arrowhead Pharmaceuticals by 36.2% in the 1st quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 174 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Arrowhead Pharmaceuticals by 1.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company’s stock valued at $737,000 after buying an additional 178 shares during the last quarter. Optiver Holding B.V. grew its position in shares of Arrowhead Pharmaceuticals by 83.8% in 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 last quarter. Finally, Versant Capital Management Inc raised its stake in Arrowhead Pharmaceuticals by 285.1% during 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 in the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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.