Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Buy Rating from B. Riley

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reiterated by investment analysts at B. Riley in a research note issued on Friday,Benzinga reports. They currently have a $38.00 price objective on the biotechnology company’s stock, down from their prior price objective of $51.00. B. Riley’s price target suggests a potential upside of 92.26% from the stock’s current price.

A number of other research firms also recently weighed in on ARWR. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Piper Sandler decreased their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Chardan Capital reiterated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.44.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock traded up $0.66 during midday trading on Friday, reaching $19.77. 258,190 shares of the stock traded hands, compared to its average volume of 2,247,210. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals has a 12 month low of $17.05 and a 12 month high of $36.72. The stock’s fifty day moving average is $20.08 and its 200-day moving average is $21.22. The stock has a market cap of $2.47 billion, a P/E ratio of -3.93 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). As a group, equities research analysts anticipate that Arrowhead Pharmaceuticals will post -3.4 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Richard Anzalone sold 26,712 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $21.24, for a total value of $567,362.88. Following the sale, the chief executive officer now owns 3,688,335 shares in the company, valued at $78,340,235.40. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,850 shares of the stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $20.00, for a total value of $57,000.00. Following the sale, the director now directly owns 36,740 shares in the company, valued at $734,800. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,432 shares of company stock valued at $2,957,986. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ARWR. R Squared Ltd acquired a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $38,000. Values First Advisors Inc. acquired a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at $52,000. Van ECK Associates Corp lifted its stake in shares of Arrowhead Pharmaceuticals by 72.3% in the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 1,250 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after buying an additional 788 shares in the last quarter. Finally, KBC Group NV grew its position in Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after buying an additional 1,644 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.