Brokerages Set Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Price Target at $88.17

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $88.75.

Several analysts have issued reports on the company. Chardan Capital reaffirmed a “buy” rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, June 30th. Stifel Nicolaus assumed coverage on Arrowhead Pharmaceuticals in a research report on Tuesday. They issued a “buy” rating and a $98.00 price target for the company. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Leerink Partners raised their price objective on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, June 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 1st.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, CFO Daniel Joseph Apel sold 13,095 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total value of $934,328.25. Following the sale, the chief financial officer directly owned 162,905 shares in the company, valued at approximately $11,623,271.75. This trade represents a 7.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Hongbo Lu sold 2,970 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total transaction of $228,333.60. Following the transaction, the director owned 52,012 shares of the company’s stock, valued at approximately $3,998,682.56. This trade represents a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 26,065 shares of company stock valued at $1,912,662. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ARWR. Versant Capital Management Inc increased its position 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 buying an additional 248 shares in the last quarter. Carolina Wealth Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 80.6% in the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 154 shares in the last quarter. Tsfg LLC acquired a new stake in Arrowhead Pharmaceuticals in the fourth quarter worth about $25,000. Optiver Holding B.V. grew 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 worth $26,000 after acquiring an additional 186 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 4.1%

NASDAQ:ARWR opened at $74.30 on Wednesday. The firm has a 50-day simple moving average of $77.62 and a 200-day simple moving average of $69.48. Arrowhead Pharmaceuticals has a one year low of $14.30 and a one year high of $87.83. The firm has a market cap of $10.47 billion, a P/E ratio of -34.56 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $0.17. The company had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. Arrowhead Pharmaceuticals’s revenue was down 86.4% compared to the same quarter last year. During the same period last year, the company posted $2.75 earnings per share. Equities analysts anticipate that Arrowhead Pharmaceuticals will post -3.07 EPS for the current fiscal year.

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.