B. Riley Financial Issues Positive Forecast for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective upped by research analysts at B. Riley Financial from $101.00 to $123.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. B. Riley Financial’s price objective indicates a potential upside of 41.61% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. HC Wainwright raised their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler reissued an “overweight” rating and issued a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Leerink Partners upped their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, June 17th. Finally, Weiss Ratings cut Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $96.92.

Arrowhead Pharmaceuticals Stock Up 0.7%

ARWR traded up $0.64 on Thursday, hitting $86.86. The company had a trading volume of 521,607 shares, compared to its average volume of 2,475,697. The stock has a fifty day moving average price of $78.61 and a 200-day moving average price of $70.41. Arrowhead Pharmaceuticals has a 12-month low of $15.01 and a 12-month high of $95.49. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of -40.41 and a beta of 1.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, beating 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 business had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. During the same period in the prior year, the firm posted $2.75 earnings per share. The company’s quarterly revenue was down 86.4% on a year-over-year basis. Analysts predict that Arrowhead Pharmaceuticals will post -3.08 EPS for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu sold 2,970 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the sale, the director directly owned 52,012 shares of the company’s stock, valued at $3,998,682.56. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARWR. Carolina Wealth Advisors LLC lifted its holdings 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 purchasing an additional 154 shares during the period. Allied Private Wealth LLC acquired a new position in Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $43,000. Assenagon Asset Management S.A. raised its position in Arrowhead Pharmaceuticals by 243.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 201,927 shares of the biotechnology company’s stock worth $16,459,000 after buying an additional 143,192 shares during the last quarter. GAMMA Investing LLC lifted its stake in Arrowhead Pharmaceuticals by 15.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,879 shares of the biotechnology company’s stock valued at $316,000 after acquiring an additional 532 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at approximately $105,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

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.