HC Wainwright Issues Positive Forecast for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target hoisted by stock analysts at HC Wainwright from $100.00 to $115.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 34.35% from the company’s current price.

A number of other equities research analysts have also issued reports on ARWR. Piper Sandler reaffirmed an “overweight” rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Sanford C. Bernstein upped their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada increased their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.08.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $85.60 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23. Arrowhead Pharmaceuticals has a 1 year low of $15.01 and a 1 year high of $95.49. The firm has a market capitalization of $12.06 billion, a PE ratio of -39.81 and a beta of 1.26. The business’s 50 day moving average price is $77.94 and its 200-day moving average price is $70.02.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.17. The firm had revenue of $73.74 million during the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The firm’s revenue was down 86.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.75 EPS. As a group, equities research analysts expect that Arrowhead Pharmaceuticals will post -3.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Hongbo Lu sold 2,970 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total value of $228,333.60. Following the completion of the sale, the director owned 52,012 shares of the company’s stock, valued at approximately $3,998,682.56. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

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

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.