Arrowhead Pharmaceuticals (NASDAQ:ARWR) Upgraded at StockNews.com

StockNews.com upgraded shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) from a sell rating to a hold rating in a research note released on Wednesday morning.

Other research analysts also recently issued research reports about the stock. Chardan Capital reissued a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. Citigroup cut their price objective on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. B. Riley reaffirmed a “buy” rating and issued a $38.00 target price (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.13.

Arrowhead Pharmaceuticals Trading Up 2.4%

Shares of Arrowhead Pharmaceuticals stock opened at $15.71 on Wednesday. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -3.04 and a beta of 0.89. Arrowhead Pharmaceuticals has a 52-week low of $9.57 and a 52-week high of $30.41. The company’s 50-day simple moving average is $13.30 and its 200-day simple moving average is $17.80.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $2.81. The company had revenue of $542.71 million for the quarter, compared to analyst estimates of $116.27 million. During the same period last year, the company earned ($1.02) earnings per share. As a group, equities research analysts anticipate that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current year.

Insider Activity

In related news, CEO Christopher Richard Anzalone sold 40,322 shares of the business’s stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $10.07, for a total value of $406,042.54. Following the transaction, the chief executive officer now owns 4,022,055 shares in the company, valued at approximately $40,502,093.85. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 275,880 shares of company stock worth $4,034,037. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Arrowhead Pharmaceuticals by 297.6% in the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,628 shares in the last quarter. R Squared Ltd acquired a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at $38,000. GF Fund Management CO. LTD. acquired a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at $49,000. Van ECK Associates Corp boosted its stake in Arrowhead Pharmaceuticals by 72.3% during the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 1,250 shares during the last quarter. Finally, CWM LLC grew its holdings in Arrowhead Pharmaceuticals by 134.3% during the 1st quarter. CWM LLC now owns 4,401 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 2,523 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.