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 note published on Monday,Benzinga reports. Royal Bank Of Canada currently has a $100.00 price target on the biotechnology company’s stock.

ARWR has been the subject of a number of other research reports. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. B. Riley Financial boosted their target price on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. HC Wainwright upped their price target on Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Chardan Capital reiterated a “buy” rating and set a $115.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.42.

Arrowhead Pharmaceuticals Trading Up 3.2%

Shares of ARWR opened at $85.37 on Monday. Arrowhead Pharmaceuticals has a 52-week low of $25.61 and a 52-week high of $95.49. The stock has a market cap of $12.03 billion, a PE ratio of -37.94 and a beta of 1.28. The firm’s fifty day moving average is $83.82 and its two-hundred day moving average is $74.07. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The business had revenue of $75.25 million during the quarter, compared to analyst estimates of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. Arrowhead Pharmaceuticals’s quarterly revenue was up 171.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.26) earnings per share. Research analysts forecast that Arrowhead Pharmaceuticals will post -3.62 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the sale, the director directly owned 31,600 shares in the company, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael S. Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the transaction, the director directly owned 111,459 shares in the company, valued at $9,730,370.70. This trade represents a 9.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ARWR. BlackRock Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at approximately $1,208,838,000. California State Teachers Retirement System grew its position in Arrowhead Pharmaceuticals by 7,797.6% in the second quarter. California State Teachers Retirement System now owns 11,397,217 shares of the biotechnology company’s stock worth $928,987,000 after acquiring an additional 11,252,904 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Arrowhead Pharmaceuticals by 3,142.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock valued at $71,797,000 after purchasing an additional 2,017,489 shares during the period. Norges Bank purchased a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at $113,159,000. Finally, Fred Alger Management LLC raised its position in Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after purchasing an additional 1,526,164 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.