Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $95.00 Price Target at JPMorgan Chase & Co.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective raised by JPMorgan Chase & Co. from $88.00 to $95.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Chardan Capital restated a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, June 30th. Leerink Partners increased their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 17th. Royal Bank Of Canada increased their target price on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Arrowhead Pharmaceuticals Stock Up 4.1%

ARWR stock opened at $74.30 on Friday. The company has a 50 day moving average price of $77.62 and a two-hundred day moving average price of $69.48. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. The stock has a market capitalization of $10.47 billion, a P/E ratio of -34.56 and a beta of 1.26. Arrowhead Pharmaceuticals has a one year low of $14.30 and a one year high of $87.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. The company 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 for the quarter was down 86.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.75 EPS. As a group, sell-side analysts expect that Arrowhead Pharmaceuticals will post -3.07 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Daniel Joseph Apel sold 13,095 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total value of $934,328.25. Following the sale, the chief financial officer owned 162,905 shares of the company’s stock, valued at approximately $11,623,271.75. This trade represents a 7.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Hongbo Lu sold 2,970 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total value 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 represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 26,065 shares of company stock valued at $1,912,662. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARWR. Arrowstreet Capital Limited Partnership grew its stake in shares of Arrowhead Pharmaceuticals by 3,142.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after purchasing an additional 2,017,489 shares during the last quarter. Norges Bank acquired a new stake in Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $113,159,000. Fred Alger Management LLC boosted its holdings in Arrowhead Pharmaceuticals by 497.4% during the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after buying an additional 1,526,164 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Arrowhead Pharmaceuticals during the first quarter worth approximately $64,988,000. Finally, Deerfield Management Company L.P. acquired a new position in Arrowhead Pharmaceuticals in the third quarter worth approximately $34,249,000. 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.