Royal Bank of Canada Reiterates “Outperform” Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They presently have a $42.00 price target on the biotechnology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 113.52% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. B. Riley reaffirmed a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. HC Wainwright restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. Chardan Capital restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. The Goldman Sachs Group started coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price target for the company. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Arrowhead Pharmaceuticals Trading Up 0.3 %

Arrowhead Pharmaceuticals stock opened at $19.67 on Thursday. The company has a fifty day simple moving average of $23.76 and a 200 day simple moving average of $24.88. Arrowhead Pharmaceuticals has a 1-year low of $19.07 and a 1-year high of $39.83. The company has a market cap of $2.44 billion, a P/E ratio of -4.63 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. Arrowhead Pharmaceuticals’s revenue was down 100.0% compared to the same quarter last year. During the same period last year, the company posted ($0.96) EPS. On average, equities research analysts forecast that Arrowhead Pharmaceuticals will post -4.31 EPS for the current year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, insider Tracie Oliver sold 9,394 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total transaction of $237,480.32. Following the sale, the insider now owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp raised its stake in Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 354 shares during the period. Neo Ivy Capital Management purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter valued at $41,000. Quest Partners LLC bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at $45,000. Headlands Technologies LLC lifted its stake in 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 purchasing an additional 2,386 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 3,333 shares during the last quarter. 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.