Arrowhead Pharmaceuticals (NASDAQ:ARWR) Rating Reiterated by HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $60.00 price target on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 150.21% from the company’s previous close.

ARWR has been the subject of several other research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, June 20th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. B. Riley reiterated a “buy” rating and issued a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Morgan Stanley dropped their price objective on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. Finally, The Goldman Sachs Group assumed coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Arrowhead Pharmaceuticals Trading Up 4.7 %

Shares of NASDAQ:ARWR opened at $23.98 on Tuesday. The firm has a 50 day simple moving average of $25.80 and a 200-day simple moving average of $26.17. Arrowhead Pharmaceuticals has a twelve month low of $20.67 and a twelve month high of $39.83. The company has a market capitalization of $2.98 billion, a PE ratio of -5.64 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 152.95%. During the same quarter in the previous year, the company posted ($0.96) earnings per share. The business’s quarterly revenue was down 100.0% compared to the same quarter last year. As a group, equities research analysts predict that Arrowhead Pharmaceuticals will post -4.02 EPS for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, insider Tracie Oliver sold 9,394 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total transaction of $237,480.32. Following the transaction, the insider now directly owns 127,107 shares of the company’s stock, valued at approximately $3,213,264.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP grew its stake in shares of Arrowhead Pharmaceuticals by 54.5% during the 2nd quarter. Quarry LP now owns 8,500 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 3,000 shares during the period. Creative Planning boosted its position in shares of Arrowhead Pharmaceuticals by 9.4% in the 2nd quarter. Creative Planning now owns 28,276 shares of the biotechnology company’s stock worth $735,000 after buying an additional 2,420 shares in the last quarter. Algert Global LLC boosted its position in shares of Arrowhead Pharmaceuticals by 104.3% in the 2nd quarter. Algert Global LLC now owns 40,466 shares of the biotechnology company’s stock worth $1,052,000 after buying an additional 20,656 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Arrowhead Pharmaceuticals by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 149,156 shares of the biotechnology company’s stock worth $3,877,000 after buying an additional 1,677 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Arrowhead Pharmaceuticals by 61.9% in the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after buying an additional 202,280 shares in the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

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.