Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns “Overweight” Rating from Piper Sandler

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “overweight” rating reaffirmed by analysts at Piper Sandler in a note issued to investors on Thursday,Benzinga reports. They currently have a $126.00 price objective on the biotechnology company’s stock, up from their previous price objective of $110.00. Piper Sandler’s target price points to a potential upside of 47.20% from the stock’s current price.

A number of other analysts also recently commented on ARWR. Leerink Partners upped their price objective on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, June 17th. Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $78.00 to $100.00 in a report on Tuesday, April 21st. Chardan Capital boosted their price target on Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, JPMorgan Chase & Co. upped their price target on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.83.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $85.60 on Thursday. Arrowhead Pharmaceuticals has a 1 year low of $15.01 and a 1 year high of $95.49. The company’s 50 day simple moving average is $77.94 and its 200 day simple moving average is $69.97. The stock has a market capitalization of $12.06 billion, a PE ratio of -39.81 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. The firm had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. Arrowhead Pharmaceuticals’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 business posted $2.75 earnings per share. As a group, sell-side analysts expect that Arrowhead Pharmaceuticals will post -3.08 EPS for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu sold 2,970 shares of the firm’s stock in a transaction 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 approximately $3,998,682.56. This trade represents a 5.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Carolina Wealth Advisors LLC raised its position in Arrowhead Pharmaceuticals by 80.6% in the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 154 shares during the period. CWM LLC boosted its position in shares of Arrowhead Pharmaceuticals by 1.4% in the fourth quarter. CWM LLC now owns 12,347 shares of the biotechnology company’s stock worth $820,000 after buying an additional 168 shares during the period. First Horizon Corp boosted its position in shares of Arrowhead Pharmaceuticals by 36.2% in the first quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock worth $41,000 after buying an additional 174 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company’s stock valued at $737,000 after buying an additional 178 shares in the last quarter. Finally, Optiver Holding B.V. grew its stake in shares of Arrowhead Pharmaceuticals by 83.8% in the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 186 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.