Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $95.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective increased by JPMorgan Chase & Co. from $88.00 to $95.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 29.18% from the company’s current price.

Several other research firms have also recently weighed in on ARWR. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $78.00 to $100.00 in a research note on Tuesday, April 21st. Stifel Nicolaus started coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. They set a “buy” rating and a $98.00 target price for the company. Chardan Capital restated a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, June 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Arrowhead Pharmaceuticals Trading Up 3.0%

ARWR traded up $2.16 during midday trading on Friday, hitting $73.54. 811,664 shares of the company were exchanged, compared to its average volume of 2,457,135. The firm has a market capitalization of $10.36 billion, a P/E ratio of -34.16 and a beta of 1.26. Arrowhead Pharmaceuticals has a 1-year low of $14.30 and a 1-year high of $87.83. The firm’s 50 day moving average price is $77.59 and its 200-day moving average price is $69.45. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The firm had revenue of $73.74 million for the quarter, compared to analyst estimates 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 was down 86.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.75 EPS. As a group, equities analysts forecast that Arrowhead Pharmaceuticals will post -3.07 EPS for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the transaction, the director owned 52,012 shares of the company’s stock, valued at $3,998,682.56. This trade represents a 5.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James C. Hamilton sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the transaction, the insider owned 226,958 shares in the company, valued at $17,021,850. The trade was 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. Insiders have sold 26,065 shares of company stock valued at $1,912,662 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ARWR. Geode Capital Management LLC boosted its position in Arrowhead Pharmaceuticals by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after purchasing an additional 133,921 shares during the last quarter. Baker BROS. Advisors LP increased its position in shares of Arrowhead Pharmaceuticals by 30.2% during the 4th quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock valued at $144,441,000 after purchasing an additional 504,883 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Arrowhead Pharmaceuticals by 0.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock worth $138,619,000 after purchasing an additional 6,264 shares during the period. Fred Alger Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 497.4% during the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after purchasing an additional 1,526,164 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 34.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after buying an additional 447,456 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Company Profile

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.