Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Buy Rating from B. Riley

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reissued by analysts at B. Riley in a report released on Monday, Benzinga reports. They currently have a $55.00 price target on the biotechnology company’s stock. B. Riley’s target price points to a potential upside of 139.65% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. The Goldman Sachs Group began coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 23rd. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR traded down $0.46 during mid-day trading on Monday, hitting $22.95. The company had a trading volume of 245,507 shares, compared to its average volume of 1,267,090. The company has a market capitalization of $2.85 billion, a PE ratio of -5.40 and a beta of 0.94. The business’s 50-day simple moving average is $26.33 and its 200 day simple moving average is $27.17. Arrowhead Pharmaceuticals has a 1-year low of $20.67 and a 1-year high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 140.72%. The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period last year, the business posted ($0.96) earnings per share. On average, analysts expect that Arrowhead Pharmaceuticals will post -3.04 EPS for the current year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, insider Tracie Oliver sold 9,394 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total transaction of $237,480.32. Following the transaction, the insider now owns 127,107 shares in the company, valued at approximately $3,213,264.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp grew its stake in shares of Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 354 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at $41,000. Quest Partners LLC acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at $45,000. Van ECK Associates Corp raised its position in Arrowhead Pharmaceuticals by 22.9% during the 4th quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock worth $73,000 after buying an additional 447 shares during the last quarter. Finally, Headlands Technologies LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 7,696.8% in the 1st quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 2,386 shares during the period. 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.