Arrowhead Pharmaceuticals’ (ARWR) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They currently have a $42.00 price objective on the biotechnology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 126.17% from the stock’s current price.

A number of other research firms have also recently commented on ARWR. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, January 23rd. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Citigroup lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Chardan Capital restated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Finally, Piper Sandler lowered their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Trading Down 1.7 %

Arrowhead Pharmaceuticals stock opened at $18.57 on Tuesday. The stock has a market cap of $2.32 billion, a PE ratio of -3.70 and a beta of 0.95. The stock has a 50-day moving average price of $20.14 and a 200 day moving average price of $21.23. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $36.72. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06.

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

Insider Buying and Selling

In other news, insider James C. Hamilton sold 32,729 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $648,688.78. Following the completion of the sale, the insider now directly owns 272,122 shares of the company’s stock, valued at $5,393,458.04. This represents a 10.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher Richard Anzalone sold 11,520 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total value of $219,456.00. Following the transaction, the chief executive officer now directly owns 3,764,252 shares in the company, valued at $71,709,000.60. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,432 shares of company stock valued at $2,957,986. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. World Investment Advisors LLC increased its position in Arrowhead Pharmaceuticals by 3.8% in the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock worth $371,000 after purchasing an additional 700 shares during the last quarter. Xponance Inc. increased its holdings in shares of Arrowhead Pharmaceuticals by 4.5% during the 4th quarter. Xponance Inc. now owns 17,400 shares of the biotechnology company’s stock valued at $327,000 after acquiring an additional 744 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arrowhead Pharmaceuticals by 21.3% during 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 acquiring an additional 788 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Arrowhead Pharmaceuticals by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after acquiring an additional 886 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Arrowhead Pharmaceuticals by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock valued at $279,000 after acquiring an additional 980 shares during 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.