Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $120.00 Price Target at HC Wainwright

by · The Markets Daily

Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) had its price target increased by investment analysts at HC Wainwright from $115.00 to $120.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 40.34% from the company’s current price.

Several other research firms also recently commented on ARWR. Sanford C. Bernstein boosted their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Leerink Partners lifted their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, June 17th. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. 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 objective for the company. Finally, Weiss Ratings cut shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.33.

Check Out Our Latest Research Report on ARWR

Arrowhead Pharmaceuticals Stock Down 1.6%

Shares of ARWR traded down $1.40 during mid-day trading on Thursday, hitting $85.51. 469,155 shares of the company’s stock were exchanged, compared to its average volume of 2,446,180. The stock’s 50-day moving average is $79.63 and its 200-day moving average is $71.16. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. Arrowhead Pharmaceuticals has a fifty-two week low of $15.01 and a fifty-two week high of $95.49. The company has a market cap of $12.04 billion, a price-to-earnings ratio of -38.02 and a beta of 1.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last announced its quarterly earnings data 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). Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 57.65%. The business had revenue of $75.25 million during the quarter, compared to analyst estimates of $44.17 million. During the same quarter last year, the firm posted ($1.26) EPS. The company’s revenue for the quarter was up 171.0% on a year-over-year basis. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals will post -3.11 earnings per share 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 that occurred on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total value of $228,333.60. Following the transaction, the director owned 52,012 shares of the company’s stock, valued at approximately $3,998,682.56. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Arrowhead Pharmaceuticals by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after purchasing an additional 133,921 shares in the last quarter. Baker BROS. Advisors LP raised its stake in shares of Arrowhead Pharmaceuticals by 30.2% during the 4th quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock worth $144,441,000 after buying an additional 504,883 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Arrowhead Pharmaceuticals by 0.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock worth $138,619,000 after buying an additional 6,264 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 497.4% in the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after buying an additional 1,526,164 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 34.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after buying an additional 447,456 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

About Arrowhead Pharmaceuticals

(Get Free Report)

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.

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