HC Wainwright Reaffirms “Buy” Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $100.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 64.55% from the stock’s previous close.

A number of other analysts have also recently weighed in on ARWR. Royal Bank Of Canada raised their price objective on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Weiss Ratings raised Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. Bank of America increased their price target on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Piper Sandler reissued an “overweight” rating and issued a $110.00 price target (up from $100.00) on shares of Arrowhead Pharmaceuticals in a report on Tuesday, January 13th. Finally, Chardan Capital boosted their price target on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $81.67.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $60.77 on Wednesday. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.29. The company has a market cap of $8.51 billion, a P/E ratio of 39.72 and a beta of 1.23. The firm’s 50 day moving average price is $62.99 and its 200-day moving average price is $53.23. Arrowhead Pharmaceuticals has a 52-week low of $9.57 and a 52-week high of $76.76.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The firm had revenue of $264.03 million during the quarter, compared to analyst estimates of $225.66 million. During the same quarter last year, the business earned ($1.39) earnings per share. Arrowhead Pharmaceuticals’s revenue was up 10461.3% on a year-over-year basis. On average, sell-side analysts predict that Arrowhead Pharmaceuticals will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider James C. Hamilton sold 10,000 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $64.19, for a total value of $641,900.00. Following the sale, the insider owned 236,958 shares in the company, valued at $15,210,334.02. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick O’brien sold 49,493 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $63.11, for a total transaction of $3,123,503.23. Following the completion of the sale, the chief operating officer directly owned 474,908 shares in the company, valued at approximately $29,971,443.88. The trade was a 9.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 164,570 shares of company stock valued at $10,747,632 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Arrowhead Pharmaceuticals by 30.2% during the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock worth $576,000 after purchasing an additional 10,496 shares during the period. AQR Capital Management LLC purchased a new position in Arrowhead Pharmaceuticals in the first quarter valued at $514,000. Goldman Sachs Group Inc. raised its position in shares of Arrowhead Pharmaceuticals by 34.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after acquiring an additional 447,456 shares during the period. Empowered Funds LLC raised its position in shares of Arrowhead Pharmaceuticals by 6.9% in the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after acquiring an additional 979 shares during the period. Finally, Focus Partners Wealth boosted its stake in shares of Arrowhead Pharmaceuticals by 1,339.5% during the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 15,123 shares in the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

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.