Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $42.00 price target on the biotechnology company’s stock.

Other research analysts have also issued research reports about the company. Sanford C. Bernstein lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Piper Sandler reduced their target price on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Citigroup reduced their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Chardan Capital reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Finally, StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Trading Up 2.9 %

ARWR opened at $19.11 on Tuesday. The business has a 50 day simple moving average of $20.08 and a two-hundred day simple moving average of $21.22. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -3.81 and a beta of 0.95. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. Arrowhead Pharmaceuticals has a one year low of $17.05 and a one year high of $36.72.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). Analysts predict that Arrowhead Pharmaceuticals will post -3.4 EPS for the current year.

Insider Buying and Selling

In related news, Director William D. Waddill sold 3,748 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the sale, the director now owns 44,125 shares in the company, valued at $966,337.50. This represents a 7.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Adeoye Y. Olukotun sold 2,850 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $20.00, for a total value of $57,000.00. Following the completion of the sale, the director now owns 36,740 shares in the company, valued at $734,800. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,432 shares of company stock worth $2,957,986 in the last 90 days. Insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. World Investment Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 3.8% during the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 700 shares during the last quarter. Xponance Inc. boosted its stake in Arrowhead Pharmaceuticals by 4.5% during the 4th quarter. Xponance Inc. now owns 17,400 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 744 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after buying an additional 788 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 2.2% during the 4th quarter. Ameritas Investment Partners Inc. now owns 37,994 shares of the biotechnology company’s stock valued at $714,000 after buying an additional 803 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Arrowhead Pharmaceuticals by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after buying an additional 886 shares during the period. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Company Profile

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.