Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $120.00 Price Target at Morgan Stanley

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target hoisted by analysts at Morgan Stanley from $100.00 to $120.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 37.77% from the stock’s previous close.

A number of other brokerages have also weighed in on ARWR. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings downgraded Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Sanford C. Bernstein boosted their target price on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Stifel Nicolaus started coverage on Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They set a “buy” rating and a $98.00 price target on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.83.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR traded down $1.60 on Thursday, hitting $87.10. 1,235,445 shares of the company were exchanged, compared to its average volume of 2,495,303. The company’s 50 day moving average price is $77.62 and its two-hundred day moving average price is $69.73. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of -40.62 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. Arrowhead Pharmaceuticals has a one year low of $15.01 and a one year high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The business had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. During the same period in the previous year, the business earned $2.75 EPS. The firm’s revenue was down 86.4% on a year-over-year basis. Research analysts expect that Arrowhead Pharmaceuticals will post -3.09 earnings per share for the current year.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total value of $228,333.60. Following the sale, the director directly owned 52,012 shares in the company, valued at approximately $3,998,682.56. The trade was a 5.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ARWR. M&T Bank Corp grew its holdings in Arrowhead Pharmaceuticals by 2,569.6% in the fourth quarter. M&T Bank Corp now owns 240,634 shares of the biotechnology company’s stock worth $15,976,000 after purchasing an additional 231,620 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth $2,375,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $912,000. State of New Jersey Common Pension Fund D acquired a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $2,820,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $2,541,000. Institutional investors own 62.61% of the company’s stock.

Trending Headlines about Arrowhead Pharmaceuticals

Here are the key news stories impacting Arrowhead Pharmaceuticals this week:

• Positive Sentiment: Arrowhead reported topline Phase 3 SHASTA-3 and SHASTA-4 results showing plozasiran met its primary endpoint, strengthening the case for an FDA filing and potential commercial expansion. Arrowhead Pharmaceuticals Reports Topline Results from Phase 3 SHASTA-3 and SHASTA-4 Studies of Plozasiran in Patients with Severe Hypertriglyceridemia
• Positive Sentiment: Piper Sandler reaffirmed its overweight rating and lifted its price target to $126 from $110, signaling increased confidence in Arrowhead’s growth outlook after the plozasiran data. Benzinga analyst note on Piper Sandler price target increase
• Positive Sentiment: Chardan Capital also raised its price target to $115 from $90 and kept a buy rating, adding to the bullish analyst momentum around the stock. Benzinga analyst note on Chardan Capital price target increase
• Positive Sentiment: Multiple reports highlighted Arrowhead hitting a 52-week high and being viewed as “sky high” after the trial win, while rival Ionis fell, reinforcing the market’s positive reaction to Arrowhead’s data. Seeking Alpha article on late-stage trial win
• Neutral Sentiment: Arrowhead also provided an update on its early-stage ARO-033 trial, which appears to be part of its broader pipeline progress but is less likely to be the main near-term stock driver. TipRanks update on ARO-033 first-in-human trial

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.