B. Riley Reiterates “Buy” Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reiterated by investment analysts at B. Riley in a report released on Friday,Benzinga reports. They presently have a $38.00 price target on the biotechnology company’s stock, down from their previous price target of $51.00. B. Riley’s price objective points to a potential upside of 92.26% from the company’s previous close.

Several other brokerages also recently commented on ARWR. Sanford C. Bernstein cut their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday. 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 report on Wednesday, November 27th. Piper Sandler cut their target price on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.44.

Arrowhead Pharmaceuticals Stock Up 3.4 %

Shares of ARWR stock traded up $0.66 during trading hours on Friday, hitting $19.77. 258,190 shares of the company’s stock traded hands, compared to its average volume of 2,247,210. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -3.93 and a beta of 0.95. The stock’s fifty day simple moving average is $20.08 and its two-hundred day simple moving average is $21.22. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $36.72.

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

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 32,729 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $19.82, for a total value of $648,688.78. Following the transaction, the insider now directly owns 272,122 shares of the company’s stock, valued at approximately $5,393,458.04. This trade represents a 10.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William D. Waddill sold 3,748 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the sale, the director now owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. This represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,432 shares of company stock worth $2,957,986 in the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Buffington Mohr McNeal purchased a new stake in Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $581,000. International Assets Investment Management LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter valued at $14,420,000. Assenagon Asset Management S.A. boosted its holdings in 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 worth $5,677,000 after buying an additional 204,933 shares during the period. Values First Advisors Inc. purchased a new stake in Arrowhead Pharmaceuticals in the 3rd quarter worth $52,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings 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 acquiring an additional 788 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.