Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $72.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target boosted by Leerink Partners from $61.00 to $72.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the biotechnology company’s stock. Leerink Partners’ price target points to a potential downside of 8.88% from the company’s current price.

A number of other brokerages have also recently commented on ARWR. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $100.00 in a research note on Tuesday, April 21st. Royal Bank Of Canada upped their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Sanford C. Bernstein increased their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, March 25th. Finally, Weiss Ratings downgraded Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.36.

Arrowhead Pharmaceuticals Price Performance

ARWR traded up $2.47 during trading on Wednesday, reaching $79.02. 226,066 shares of the stock were exchanged, compared to its average volume of 2,354,929. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of -36.75 and a beta of 1.28. Arrowhead Pharmaceuticals has a 1 year low of $14.30 and a 1 year high of $82.26. The business’s 50 day moving average price is $73.09 and its two-hundred day moving average price is $67.21.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The business had revenue of $73.74 million during the quarter, compared to analysts’ expectations of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The business’s revenue for the quarter was down 86.4% on a year-over-year basis. During the same quarter last year, the business posted $2.75 earnings per share. As a group, equities research analysts anticipate that Arrowhead Pharmaceuticals will post -3 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Hongbo Lu sold 2,970 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total transaction of $228,333.60. Following the transaction, the director directly owned 52,012 shares in the company, valued at approximately $3,998,682.56. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James C. Hamilton sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the transaction, the insider directly owned 226,958 shares of the company’s stock, valued at approximately $17,021,850. This represents a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 26,065 shares of company stock valued at $1,912,662. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Tsfg LLC acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter worth approximately $25,000. Optiver Holding B.V. grew its stake in shares of Arrowhead Pharmaceuticals by 83.8% during the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 186 shares during the period. iSAM Funds UK Ltd acquired a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth $29,000. First Horizon Corp purchased a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth $32,000. Finally, WPG Advisers LLC raised its position in shares of Arrowhead Pharmaceuticals by 384.8% in the 4th quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock worth $36,000 after buying an additional 431 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.