Arrowhead Pharmaceuticals (NASDAQ:ARWR) Receives “Buy” Rating from B. Riley

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

Several other research firms also recently weighed in on ARWR. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Citigroup decreased their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Sanford C. Bernstein decreased their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Chardan Capital reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. Finally, Piper Sandler reduced their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.44.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $19.95 on Friday. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -3.97 and a beta of 0.95. The firm has a 50-day moving average of $20.00 and a two-hundred day moving average of $21.16. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $36.72. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74.

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

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of Arrowhead Pharmaceuticals 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. The trade was a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James C. Hamilton sold 32,729 shares of Arrowhead Pharmaceuticals 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 transaction, the insider now directly owns 272,122 shares in the company, valued at $5,393,458.04. This represents a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,432 shares of company stock valued at $2,957,986. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. World Investment Advisors LLC lifted its position in Arrowhead Pharmaceuticals by 3.8% during the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 700 shares during the period. Xponance Inc. lifted its position in Arrowhead Pharmaceuticals by 4.5% during the fourth quarter. Xponance Inc. now owns 17,400 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 744 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 788 shares during the period. Ameritas Investment Partners Inc. lifted its position in Arrowhead Pharmaceuticals by 2.2% during the fourth quarter. Ameritas Investment Partners Inc. now owns 37,994 shares of the biotechnology company’s stock valued at $714,000 after purchasing an additional 803 shares during the period. Finally, Wellington Management Group LLP lifted its position in Arrowhead Pharmaceuticals by 1.5% during the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after purchasing an additional 886 shares during the period. 62.61% of the stock is 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.