Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Buy Rating from Analysts at Citigroup

Equities researchers at Citigroup initiated coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note issued to investors on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $108.00 price target on the biotechnology company’s stock. Citigroup’s target price indicates a potential upside of 25.09% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Leerink Partners raised their price target on shares of 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 upped their price objective on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Stifel Nicolaus started coverage on Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.15.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $86.34 on Tuesday. The firm has a market cap of $12.16 billion, a P/E ratio of -38.37 and a beta of 1.28. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. The firm has a 50 day simple moving average of $84.23 and a 200 day simple moving average of $74.55. Arrowhead Pharmaceuticals has a fifty-two week low of $27.10 and a fifty-two week high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The firm had revenue of $75.25 million for the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The company’s revenue was up 171.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.26) EPS. Sell-side analysts predict that Arrowhead Pharmaceuticals will post -3.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the transaction, the director owned 31,600 shares in the company, valued at $2,747,936. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael S. Perry sold 11,600 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the sale, the director directly owned 111,459 shares in the company, valued at $9,730,370.70. This trade represents a 9.43% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew 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 buying an additional 143,192 shares during the period. Siren L.L.C. lifted its position in shares of Arrowhead Pharmaceuticals by 7.7% during the 1st quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company’s stock valued at $101,290,000 after acquiring an additional 115,000 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $912,000. SBI Okasan Asset Management Co.Ltd. bought a new position in Arrowhead Pharmaceuticals during the fourth quarter worth $2,541,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Arrowhead Pharmaceuticals during the first quarter worth $751,000. 62.61% of the stock is currently owned by 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.