Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $120.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price raised by Morgan Stanley from $100.00 to $120.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Royal Bank Of Canada increased their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Piper Sandler reaffirmed an “overweight” rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday. Stifel Nicolaus started coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price target for the company. Finally, Sanford C. Bernstein boosted their price target on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $93.83.

Arrowhead Pharmaceuticals Stock Down 1.4%

ARWR stock opened at $85.60 on Thursday. Arrowhead Pharmaceuticals has a fifty-two week low of $15.01 and a fifty-two week high of $95.49. 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 stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of -39.81 and a beta of 1.26. The business’s fifty day moving average price is $77.94 and its two-hundred day moving average price is $69.97.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The company had revenue of $73.74 million during the quarter, compared to analysts’ expectations of $73.84 million. During the same quarter in the previous year, the business posted $2.75 earnings per share. Arrowhead Pharmaceuticals’s quarterly revenue was down 86.4% on a year-over-year basis. On average, equities analysts anticipate that Arrowhead Pharmaceuticals will post -3.08 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Hongbo Lu sold 2,970 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total value of $228,333.60. Following the completion of the transaction, the director owned 52,012 shares of the company’s stock, valued at $3,998,682.56. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Tsfg LLC bought a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at about $25,000. Optiver Holding B.V. lifted its holdings 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 worth $26,000 after acquiring an additional 186 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Arrowhead Pharmaceuticals by 285.1% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 248 shares during the period. Carolina Wealth Advisors LLC boosted its position in shares of Arrowhead Pharmaceuticals by 80.6% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 154 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $29,000. 62.61% of the stock is 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.