Arrowhead Pharmaceuticals’ (ARWR) “Buy” Rating Reaffirmed at B. Riley

B. Riley reaffirmed their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research report released on Friday morning,Benzinga reports. The firm currently has a $38.00 price objective on the biotechnology company’s stock, down from their previous price objective of $51.00.

A number of other research analysts also recently weighed in on ARWR. Sanford C. Bernstein decreased their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Citigroup decreased their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Piper Sandler reduced their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. Finally, StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.44.

Arrowhead Pharmaceuticals Trading Up 4.4 %

Shares of Arrowhead Pharmaceuticals stock opened at $19.95 on Friday. The firm has a 50-day simple moving average of $20.00 and a two-hundred day simple moving average of $21.16. The company has a market cap of $2.50 billion, a P/E ratio of -3.97 and a beta of 0.95. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $36.72. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). As a group, equities analysts predict that Arrowhead Pharmaceuticals will post -3.4 earnings per share for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 2,850 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $20.00, for a total transaction of $57,000.00. Following the completion of the sale, the director now owns 36,740 shares of the company’s stock, valued at approximately $734,800. This represents a 7.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Waddill sold 3,748 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $21.90, for a total transaction of $82,081.20. Following the sale, the director now directly owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. This represents a 7.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,432 shares of company stock valued at $2,957,986. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. World Investment Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 3.8% in the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 700 shares during the period. Xponance Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 4.5% in the 4th quarter. Xponance Inc. now owns 17,400 shares of the biotechnology company’s stock valued at $327,000 after buying an additional 744 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Arrowhead Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after buying an additional 788 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 2.2% in the 4th quarter. Ameritas Investment Partners Inc. now owns 37,994 shares of the biotechnology company’s stock valued at $714,000 after buying an additional 803 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Arrowhead Pharmaceuticals by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after buying an additional 886 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.