Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Rating Upgraded by TD Cowen

Arrowhead Pharmaceuticals (NASDAQ:ARWR) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

ARWR has been the subject of several other reports. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. Citigroup reduced their price target on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Finally, Wall Street Zen lowered Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.71.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $15.92 on Monday. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.31. The firm has a market cap of $2.20 billion, a P/E ratio of -11.37, a P/E/G ratio of 233.83 and a beta of 0.93. Arrowhead Pharmaceuticals has a 1-year low of $9.57 and a 1-year high of $29.47. The firm has a 50-day moving average of $16.40 and a 200-day moving average of $16.14.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $2.81. The company had revenue of $542.71 million for the quarter, compared to analysts’ expectations of $116.27 million. During the same period in the previous year, the firm posted ($1.02) earnings per share. Sell-side analysts expect that Arrowhead Pharmaceuticals will post -2.42 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Arrowhead Pharmaceuticals by 138.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company’s stock valued at $60,962,000 after acquiring an additional 2,774,933 shares in the last quarter. Avoro Capital Advisors LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 25.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock worth $208,889,000 after purchasing an additional 2,222,223 shares in the last quarter. Norges Bank purchased a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $38,622,000. Vanguard Group Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 8.4% during the first quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company’s stock valued at $168,201,000 after purchasing an additional 1,018,273 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $11,821,000. 62.61% of the stock is 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.