Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $60.00 price target on the biotechnology company’s stock.

ARWR has been the topic of a number of other reports. Morgan Stanley cut their target price on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an equal weight rating on the stock in a research report on Monday, May 13th. B. Riley restated a buy rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. The Goldman Sachs Group started coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They set a neutral rating and a $31.00 target price for the company. StockNews.com raised Arrowhead Pharmaceuticals to a sell rating in a research note on Thursday, August 1st. Finally, Chardan Capital restated a buy rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $44.25.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $22.91 on Tuesday. The firm has a 50 day simple moving average of $25.84 and a 200 day simple moving average of $26.19. Arrowhead Pharmaceuticals has a fifty-two week low of $20.67 and a fifty-two week high of $39.83. The firm has a market cap of $2.85 billion, a P/E ratio of -5.39 and a beta of 0.94.

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 had a negative return on equity of 152.95% and a negative net margin of 163.32%. The firm’s revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.96) EPS. On average, sell-side analysts expect that Arrowhead Pharmaceuticals will post -4.02 EPS for the current year.

Insider Buying and Selling

In other news, insider Tracie Oliver sold 9,394 shares of the firm’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 of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp grew its holdings 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 in the last quarter. Van ECK Associates Corp grew its stake in shares of Arrowhead Pharmaceuticals by 22.9% during the 4th quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock worth $73,000 after acquiring an additional 447 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Arrowhead Pharmaceuticals by 2.4% in the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock valued at $901,000 after purchasing an additional 821 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Arrowhead Pharmaceuticals by 12.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,714 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 952 shares during the last quarter. Finally, Securian Asset Management Inc. lifted its position in shares of Arrowhead Pharmaceuticals by 12.5% in the first quarter. Securian Asset Management Inc. now owns 10,100 shares of the biotechnology company’s stock worth $289,000 after purchasing an additional 1,121 shares in the last quarter. Institutional investors and hedge funds 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.