Arrowhead Pharmaceuticals (NASDAQ:ARWR) Receives “Buy” Rating from HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Friday, Benzinga reports. They currently have a $60.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 227.87% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. B. Riley reaffirmed a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $62.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Arrowhead Pharmaceuticals Trading Up 3.4 %

Shares of ARWR traded up $0.60 during trading hours on Friday, reaching $18.30. 609,568 shares of the stock traded hands, compared to its average volume of 1,219,010. The stock has a fifty day simple moving average of $21.97 and a 200 day simple moving average of $24.28. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $39.83. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -3.90 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals’s revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.96) EPS. Analysts predict that Arrowhead Pharmaceuticals will post -4.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ARWR. Handelsbanken Fonder AB increased its position in Arrowhead Pharmaceuticals by 17.0% during the third quarter. Handelsbanken Fonder AB now owns 35,700 shares of the biotechnology company’s stock valued at $692,000 after acquiring an additional 5,200 shares during the last quarter. SG Americas Securities LLC lifted its stake in Arrowhead Pharmaceuticals by 275.8% in the third quarter. SG Americas Securities LLC now owns 35,206 shares of the biotechnology company’s stock worth $682,000 after acquiring an additional 25,837 shares during the period. Quarry LP lifted its position in shares of Arrowhead Pharmaceuticals by 54.5% during the second quarter. Quarry LP now owns 8,500 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 3,000 shares during the last quarter. Creative Planning increased its holdings in shares of Arrowhead Pharmaceuticals by 9.4% during the second quarter. Creative Planning now owns 28,276 shares of the biotechnology company’s stock valued at $735,000 after acquiring an additional 2,420 shares in the last quarter. Finally, Algert Global LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 104.3% during the second quarter. Algert Global LLC now owns 40,466 shares of the biotechnology company’s stock valued at $1,052,000 after acquiring an additional 20,656 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

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.