Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report issued on Thursday, Benzinga reports. Royal Bank of Canada currently has a $42.00 price target on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Chardan Capital reissued a buy rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. B. Riley reissued a buy rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Cantor Fitzgerald restated an overweight rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. HC Wainwright reiterated a buy rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a sell rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $43.25.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR opened at $19.67 on Thursday. Arrowhead Pharmaceuticals has a 1 year low of $19.07 and a 1 year high of $39.83. The stock has a market cap of $2.44 billion, a P/E ratio of -4.63 and a beta of 0.96. The stock has a 50-day simple moving average of $23.76 and a 200-day simple moving average of $24.85.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period last year, the company earned ($0.96) earnings per share. On average, equities research analysts predict that Arrowhead Pharmaceuticals will post -4.31 EPS for the current year.

Insider Activity

In related news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the transaction, the insider now directly owns 127,107 shares in the company, valued at approximately $3,213,264.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $40,451,000. UBS Group AG boosted its position in shares of Arrowhead Pharmaceuticals by 37.6% during the 4th quarter. UBS Group AG now owns 508,586 shares of the biotechnology company’s stock worth $15,563,000 after purchasing an additional 138,984 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $45,000. Eagle Asset Management Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 11.3% during the 4th quarter. Eagle Asset Management Inc. now owns 553,860 shares of the biotechnology company’s stock worth $16,948,000 after purchasing an additional 56,386 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $488,000. Institutional investors and hedge funds 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.