Arrowhead Pharmaceuticals’ (ARWR) Outperform Rating Reiterated at Royal Bank of Canada

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $42.00 price target on the biotechnology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 126.28% from the company’s previous close.

A number of other research analysts have also issued reports on ARWR. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, January 23rd. Sanford C. Bernstein cut their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Piper Sandler cut their target price on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, Chardan Capital reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock traded down $1.36 on Tuesday, reaching $18.56. The company had a trading volume of 826,938 shares, compared to its average volume of 2,333,721. The business’s 50-day moving average is $20.37 and its 200 day moving average is $21.32. Arrowhead Pharmaceuticals has a one year low of $17.05 and a one year high of $36.72. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $2.32 billion, a PE ratio of -3.72 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.97). Equities research analysts forecast that Arrowhead Pharmaceuticals will post -3.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the transaction, the director now directly owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James C. Hamilton sold 32,729 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $648,688.78. Following the sale, the insider now directly owns 272,122 shares of the company’s stock, valued at approximately $5,393,458.04. The trade was a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,432 shares of company stock worth $2,957,986. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Arrowhead Pharmaceuticals by 8.8% in the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after purchasing an additional 516,569 shares in the last quarter. Geode Capital Management LLC boosted its position in Arrowhead Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after buying an additional 26,171 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Arrowhead Pharmaceuticals by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company’s stock valued at $19,133,000 after buying an additional 10,785 shares during the period. abrdn plc increased its stake in shares of Arrowhead Pharmaceuticals by 12.2% during the fourth quarter. abrdn plc now owns 450,075 shares of the biotechnology company’s stock valued at $8,461,000 after buying an additional 48,929 shares during the period. Finally, Privium Fund Management B.V. lifted its holdings in Arrowhead Pharmaceuticals by 14.2% in the fourth quarter. Privium Fund Management B.V. now owns 380,586 shares of the biotechnology company’s stock worth $7,155,000 after buying an additional 47,230 shares during the period. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

About Arrowhead Pharmaceuticals

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.