Arrowhead Pharmaceuticals (NASDAQ:ARWR) Now Covered by Analysts at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note issued on Thursday, MarketBeat.com reports. The firm set a “neutral” rating and a $74.00 price target on the biotechnology company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 11.70% from the stock’s previous close.

ARWR has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 1st. Piper Sandler reissued an “overweight” rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 17th. Stifel Nicolaus initiated coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They set a “buy” rating and a $98.00 target price for the company. Finally, Morgan Stanley boosted their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.31.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock traded down $0.71 during trading on Thursday, hitting $66.25. 244,368 shares of the company’s stock were exchanged, compared to its average volume of 2,304,315. The company has a debt-to-equity ratio of 1.77, a quick ratio of 5.90 and a current ratio of 5.90. The business has a 50-day simple moving average of $82.73 and a 200-day simple moving average of $75.45. Arrowhead Pharmaceuticals has a 52-week low of $31.45 and a 52-week high of $95.49. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of -29.44 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released 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 60.06%. The firm had revenue of $75.25 million during the quarter, compared to analysts’ expectations of $44.17 million. During the same period in the previous year, the firm posted ($1.26) EPS. The firm’s quarterly revenue was up 171.0% on a year-over-year basis. On average, research analysts forecast that Arrowhead Pharmaceuticals will post -3.62 EPS for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, Director Michael Perry sold 11,600 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the completion of the sale, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. This trade represents a 9.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Adeoye Olukotun sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the transaction, the director owned 31,600 shares of the company’s stock, valued at $2,747,936. This trade represents a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARWR. Optiver Holding B.V. raised its stake in shares of Arrowhead Pharmaceuticals by 83.8% during the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 186 shares during the period. Versant Capital Management Inc boosted its stake in Arrowhead Pharmaceuticals by 285.1% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 248 shares during the last quarter. Carolina Wealth Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 80.6% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 154 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in Arrowhead Pharmaceuticals during the 2nd quarter valued at $39,000. Finally, First Horizon Corp boosted its stake in Arrowhead Pharmaceuticals by 36.3% during the 1st quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 174 shares during the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc (NASDAQ:ARWR) is a biopharmaceutical company focused on developing medicines that silence disease-causing genes. The company uses RNA interference (RNAi), a biological process that reduces the production of specific proteins, to target conditions that may be difficult to treat with conventional drugs.

Arrowhead’s proprietary TRiM platform is designed to deliver RNAi-based therapies to different tissues, including the liver, lungs and other organs. Its investigational pipeline has included candidates for cardiovascular and metabolic diseases, liver disorders, pulmonary conditions and inflammatory diseases.