Arrowhead Pharmaceuticals’ (ARWR) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a report released on Thursday, Benzinga reports. They currently have a $42.00 price objective on the biotechnology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 113.52% from the stock’s previous close.

ARWR has been the topic of a number of other reports. The Goldman Sachs Group assumed coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price objective on the stock. B. Riley reaffirmed a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $19.67 on Thursday. Arrowhead Pharmaceuticals has a fifty-two week low of $19.07 and a fifty-two week high of $39.83. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -4.63 and a beta of 0.96. The business’s 50 day moving average price is $23.76 and its 200-day moving average price is $24.88.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 152.95%. The company’s revenue was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.96) earnings per share. Sell-side analysts predict that Arrowhead Pharmaceuticals will post -4.31 earnings per share for the current year.

Insider Activity

In other Arrowhead Pharmaceuticals news, insider Tracie Oliver sold 9,394 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total transaction of $237,480.32. Following the sale, the insider now owns 127,107 shares in the company, valued at approximately $3,213,264.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp increased its holdings in Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 354 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter worth $41,000. Quest Partners LLC acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at about $45,000. Headlands Technologies LLC lifted its holdings in Arrowhead Pharmaceuticals by 7,696.8% in the first quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 2,386 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 3,333 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.