Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $115.00 at HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price increased by HC Wainwright from $100.00 to $115.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other equities research analysts also recently weighed in on ARWR. Royal Bank Of Canada lifted their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Leerink Partners upped their price objective on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, June 17th. Sanford C. Bernstein increased their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Stifel Nicolaus started coverage on Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They issued a “buy” rating and a $98.00 target price for the company. Finally, Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.08.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $85.53 on Monday. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of -39.78 and a beta of 1.26. Arrowhead Pharmaceuticals has a 52-week low of $15.01 and a 52-week high of $95.49. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. The stock’s 50 day moving average price is $78.17 and its two-hundred day moving average price is $70.12.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The company had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. During the same quarter in the previous year, the business posted $2.75 EPS. Arrowhead Pharmaceuticals’s revenue for the quarter was down 86.4% compared to the same quarter last year. On average, equities analysts predict that Arrowhead Pharmaceuticals will post -3.08 earnings per share for the current year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were 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 in the company, valued at approximately $3,998,682.56. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. M&T Bank Corp boosted its stake in Arrowhead Pharmaceuticals by 2,569.6% during the 4th quarter. M&T Bank Corp now owns 240,634 shares of the biotechnology company’s stock valued at $15,976,000 after purchasing an additional 231,620 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $2,375,000. Siren L.L.C. raised its holdings in shares of Arrowhead Pharmaceuticals by 7.7% in the first quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company’s stock valued at $101,290,000 after purchasing an additional 115,000 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $912,000. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $2,541,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.