Arrowhead Pharmaceuticals’ (ARWR) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report published on Thursday,Benzinga reports. Piper Sandler currently has a $126.00 price objective on the biotechnology company’s stock, up from their prior price objective of $110.00.

Several other brokerages have also issued reports on ARWR. Royal Bank Of Canada boosted their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Chardan Capital raised their price objective on Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 1st. Morgan Stanley raised Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $78.00 to $100.00 in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. increased their price target on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.83.

Arrowhead Pharmaceuticals Stock Down 1.4%

Arrowhead Pharmaceuticals stock opened at $85.60 on Thursday. The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of -39.81 and a beta of 1.26. The company’s 50 day simple moving average is $77.94 and its 200 day simple moving average is $69.97. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23. Arrowhead Pharmaceuticals has a fifty-two week low of $15.01 and a fifty-two week high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its 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 firm had revenue of $73.74 million during the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The business’s quarterly revenue was down 86.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.75 earnings per share. As a group, sell-side analysts anticipate that Arrowhead Pharmaceuticals will post -3.08 EPS for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, Director Hongbo Lu sold 2,970 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total value of $228,333.60. Following the sale, the director directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after purchasing an additional 10,496 shares during the period. AQR Capital Management LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the first quarter valued at about $514,000. Goldman Sachs Group Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 34.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after buying an additional 447,456 shares during the period. Empowered Funds LLC boosted its position in shares of Arrowhead Pharmaceuticals by 6.9% during the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after buying an additional 979 shares during the period. Finally, Focus Partners Wealth grew its holdings in shares of Arrowhead Pharmaceuticals by 1,339.5% during the first quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock worth $207,000 after buying an additional 15,123 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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.