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

Royal Bank of Canada reiterated their outperform rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $42.00 target price on the biotechnology company’s stock.

Several other brokerages have also recently weighed in on ARWR. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, January 23rd. Citigroup reduced their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Sanford C. Bernstein reduced their price target on 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. Finally, Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $19.11 on Tuesday. The firm has a market cap of $2.41 billion, a PE ratio of -3.81 and a beta of 0.95. The stock’s fifty day moving average price is $20.08 and its two-hundred day moving average price is $21.22. 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 has a 1 year low of $17.05 and a 1 year high of $36.72.

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

Insider Buying and Selling

In other news, Director William D. Waddill sold 3,748 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the transaction, the director now directly owns 44,125 shares in the company, valued at approximately $966,337.50. This represents a 7.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Richard Anzalone sold 11,520 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $19.05, for a total value of $219,456.00. Following the completion of the transaction, the chief executive officer now owns 3,764,252 shares of the company’s stock, 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. Insiders sold a total of 147,432 shares of company stock worth $2,957,986 over the last ninety days. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $38,622,000. State Street Corp lifted its stake in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after acquiring an additional 516,569 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Arrowhead Pharmaceuticals by 232.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock valued at $5,677,000 after acquiring an additional 204,933 shares during the last quarter. abrdn plc lifted its stake in shares of Arrowhead Pharmaceuticals by 61.3% in the 3rd quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock valued at $7,770,000 after acquiring an additional 152,476 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $2,264,000. 62.61% of the stock is currently 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.