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

HC Wainwright reiterated their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWRFree Report) in a report issued on Tuesday, Benzinga reports. They currently have a $90.00 price target on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They issued a neutral rating and a $31.00 price target on the stock. Morgan Stanley lowered their price target on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an equal weight rating on the stock in a report on Monday, May 13th. Finally, Chardan Capital restated a buy rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $47.89.

Get Our Latest Stock Analysis on ARWR

Arrowhead Pharmaceuticals Stock Down 2.5 %

Shares of ARWR stock opened at $25.84 on Tuesday. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -6.08 and a beta of 0.94. Arrowhead Pharmaceuticals has a 12-month low of $20.67 and a 12-month high of $39.83. The firm has a fifty day moving average of $24.20 and a 200-day moving average of $28.31.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Free Report) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. During the same quarter last year, the business earned $0.45 earnings per share. The company’s quarterly revenue was down 100.0% on a year-over-year basis. Research analysts expect that Arrowhead Pharmaceuticals will post -3.05 earnings per share for the current year.

Insider Activity

In other news, Director Hongbo Lu purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average cost of $27.50 per share, for a total transaction of $27,500.00. Following the completion of the acquisition, the director now owns 33,680 shares in the company, valued at $926,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Hongbo Lu acquired 1,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were acquired at an average price of $27.50 per share, with a total value of $27,500.00. Following the completion of the transaction, the director now owns 33,680 shares in the company, valued at approximately $926,200. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Victoria Vakiener sold 1,799 shares of Arrowhead Pharmaceuticals stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total transaction of $41,934.69. Following the completion of the sale, the director now directly owns 30,205 shares in the company, valued at approximately $704,078.55. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Avoro Capital Advisors LLC increased its holdings in Arrowhead Pharmaceuticals by 657.1% during the 1st quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock worth $244,689,000 after acquiring an additional 7,425,555 shares during the period. Vanguard Group Inc. grew its stake in Arrowhead Pharmaceuticals by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after buying an additional 1,731,974 shares in the last quarter. FMR LLC grew its stake in Arrowhead Pharmaceuticals by 58.2% in the 3rd quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock worth $115,780,000 after buying an additional 1,584,425 shares in the last quarter. Norges Bank purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $40,451,000. Finally, Goldman Sachs Group Inc. grew its stake in Arrowhead Pharmaceuticals by 136.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after buying an additional 613,067 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

(Get Free Report)

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.

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