Arrowhead Pharmaceuticals (NASDAQ:ARWR) Upgraded to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) from an equal weight rating to an overweight rating in a report published on Tuesday morning, Marketbeat.com reports. They currently have $100.00 price target on the biotechnology company’s stock, up from their previous price target of $78.00.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group upped their target price on shares of Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, March 25th. Weiss Ratings raised shares of Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, February 6th. B. Riley Financial upped their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Chardan Capital upped their target price on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $83.78.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $71.05 on Tuesday. The firm’s 50 day simple moving average is $62.14 and its 200 day simple moving average is $57.73. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $9.95 billion, a PE ratio of 46.44 and a beta of 1.26. Arrowhead Pharmaceuticals has a 1-year low of $11.89 and a 1-year high of $76.76.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). The firm had revenue of $264.03 million for the quarter, compared to the consensus estimate of $225.66 million. Arrowhead Pharmaceuticals had a return on equity of 35.64% and a net margin of 18.54%.The business’s revenue was up 10461.3% on a year-over-year basis. During the same period last year, the company posted ($1.39) EPS. As a group, analysts expect that Arrowhead Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 10,000 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $64.19, for a total value of $641,900.00. Following the transaction, the insider owned 236,958 shares of the company’s stock, valued at $15,210,334.02. This represents a 4.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently made changes to their positions in ARWR. Arrowstreet Capital Limited Partnership increased its holdings in shares of Arrowhead Pharmaceuticals by 3,142.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after buying an additional 2,017,489 shares during the last quarter. Norges Bank bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth $113,159,000. Fred Alger Management LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 497.4% in the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after buying an additional 1,526,164 shares during the last quarter. Deerfield Management Company L.P. bought a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter worth $34,249,000. Finally, Vestal Point Capital LP bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth $59,751,000. Institutional investors own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

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.