Arrowhead Pharmaceuticals (NASDAQ:ARWR) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report released on Thursday, Benzinga reports. They currently have a $42.00 price objective on the biotechnology company’s stock.

Other research analysts have also issued reports about the company. HC Wainwright reiterated a buy rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. Cantor Fitzgerald reiterated an overweight rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a sell rating in a research report on Thursday, August 1st. The Goldman Sachs Group began coverage on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They set a neutral rating and a $31.00 price objective for the company. Finally, B. Riley reiterated a buy rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $43.25.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR opened at $19.67 on Thursday. The company has a market capitalization of $2.44 billion, a PE ratio of -4.63 and a beta of 0.96. Arrowhead Pharmaceuticals has a one year low of $19.07 and a one year high of $39.83. The company’s fifty day moving average price is $23.76 and its 200 day moving average price is $24.82.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. During the same period in the prior year, the business earned ($0.96) earnings per share. Arrowhead Pharmaceuticals’s revenue was down 100.0% on a year-over-year basis. Analysts anticipate that Arrowhead Pharmaceuticals will post -4.31 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARWR. Fifth Third Bancorp raised its stake in shares of Arrowhead Pharmaceuticals by 42.5% during the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after buying an additional 354 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at $41,000. Quest Partners LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at $45,000. Headlands Technologies LLC grew its stake in shares of Arrowhead Pharmaceuticals by 7,696.8% during the first quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 2,386 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 4,629.2% during the second 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. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.