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

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $100.00 target price on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 59.85% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Chardan Capital raised their price objective on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada upped their target price on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, January 13th. The Goldman Sachs Group boosted their price objective on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Finally, Bank of America raised their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Arrowhead Pharmaceuticals Stock Performance

ARWR opened at $62.56 on Tuesday. The business’s 50 day moving average is $66.99 and its 200-day moving average is $44.15. The stock has a market cap of $8.76 billion, a PE ratio of 40.89 and a beta of 1.21. Arrowhead Pharmaceuticals has a twelve month low of $9.57 and a twelve month high of $76.76. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). The business had revenue of $264.03 million during the quarter, compared to analyst estimates of $225.66 million. Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. Arrowhead Pharmaceuticals’s revenue was up 10461.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.39) earnings per share. On average, analysts predict that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Christopher Richard Anzalone sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $68.85, for a total transaction of $8,950,500.00. Following the completion of the sale, the chief executive officer directly owned 3,971,255 shares in the company, valued at approximately $273,420,906.75. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Patrick O’brien sold 49,493 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $63.11, for a total transaction of $3,123,503.23. Following the transaction, the chief operating officer directly owned 474,908 shares in the company, valued at $29,971,443.88. The trade was a 9.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 510,836 shares of company stock worth $33,603,060. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ARWR. Vanguard Group Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 3.3% during the third quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock worth $553,077,000 after acquiring an additional 510,798 shares in the last quarter. Avoro Capital Advisors LLC raised its stake in shares of Arrowhead Pharmaceuticals by 2.8% during the 3rd quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock worth $375,941,000 after purchasing an additional 300,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock valued at $216,799,000 after buying an additional 133,921 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Arrowhead Pharmaceuticals by 3,507.8% in the 2nd quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock valued at $34,065,000 after buying an additional 2,096,238 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Arrowhead Pharmaceuticals by 3,142.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after buying an additional 2,017,489 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

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.