Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $88.75.

Several research firms recently commented on ARWR. Leerink Partners boosted their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 17th. Morgan Stanley raised Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. Weiss Ratings cut Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Stifel Nicolaus started coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They set a “buy” rating and a $98.00 target price on the stock.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR opened at $74.30 on Wednesday. Arrowhead Pharmaceuticals has a fifty-two week low of $14.30 and a fifty-two week high of $87.83. The firm’s 50 day moving average price is $77.62 and its 200 day moving average price is $69.48. The company has a market cap of $10.47 billion, a P/E ratio of -34.56 and a beta of 1.26. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued 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. The company had revenue of $73.74 million during the quarter, compared to analysts’ expectations of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The firm’s revenue was down 86.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.75 EPS. On average, research analysts forecast that Arrowhead Pharmaceuticals will post -3.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the transaction, the insider owned 226,958 shares in the company, valued at $17,021,850. The trade was a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the sale, the chief financial officer directly owned 162,905 shares in the company, valued at approximately $11,623,271.75. This represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 26,065 shares of company stock worth $1,912,662 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Carolina Wealth Advisors LLC raised its stake in Arrowhead Pharmaceuticals by 80.6% in the second 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 in the last quarter. Allied Private Wealth LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at about $43,000. Assenagon Asset Management S.A. raised its position in shares of 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 acquiring an additional 143,192 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Arrowhead Pharmaceuticals by 15.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,879 shares of the biotechnology company’s stock worth $316,000 after acquiring an additional 532 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in Arrowhead Pharmaceuticals during the second quarter worth approximately $105,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.