Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given Outperform Rating at Royal Bank of Canada

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They presently have a $42.00 price objective on the biotechnology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 110.00% from the company’s current price.

A number of other equities research analysts have also recently issued reports on ARWR. Chardan Capital reiterated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. 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. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Thursday, August 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.25.

Arrowhead Pharmaceuticals Price Performance

ARWR traded up $0.58 during trading hours on Thursday, hitting $20.00. 44,367 shares of the stock were exchanged, compared to its average volume of 1,223,697. The stock has a 50-day simple moving average of $24.09 and a 200-day simple moving average of $24.98. Arrowhead Pharmaceuticals has a 12 month low of $19.38 and a 12 month high of $39.83. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -4.71 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its 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 revenue for the quarter was down 100.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.96) earnings per share. Sell-side analysts expect that Arrowhead Pharmaceuticals will post -4.31 EPS for the current year.

Insider Buying and Selling

In related news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ARWR. Avoro Capital Advisors LLC boosted its position in Arrowhead Pharmaceuticals by 657.1% during the 1st quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock worth $244,689,000 after acquiring an additional 7,425,555 shares during the period. Vanguard Group Inc. boosted its position in Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after acquiring an additional 1,731,974 shares during the period. Norges Bank acquired a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth about $40,451,000. Goldman Sachs Group Inc. boosted its position in Arrowhead Pharmaceuticals by 136.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after acquiring an additional 613,067 shares during the period. Finally, Capital International Investors boosted its position in Arrowhead Pharmaceuticals by 55.2% during the 4th quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock worth $39,093,000 after acquiring an additional 454,631 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.