Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $95.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective raised by JPMorgan Chase & Co. from $88.00 to $95.00 in a research report sent to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

Several other analysts also recently weighed in on ARWR. Weiss Ratings downgraded Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Stifel Nicolaus started coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price target for the company. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Leerink Partners raised their price objective on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, June 17th. Finally, Sanford C. Bernstein lifted their price objective on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $74.30 on Friday. The stock has a market cap of $10.47 billion, a PE ratio of -34.56 and a beta of 1.26. Arrowhead Pharmaceuticals has a fifty-two week low of $14.30 and a fifty-two week high of $87.83. The business has a 50 day moving average price of $77.62 and a two-hundred day moving average price of $69.48. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The company had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The business’s quarterly revenue was down 86.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.75 earnings per share. As a group, sell-side analysts predict that Arrowhead Pharmaceuticals will post -3.07 EPS for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu sold 2,970 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the transaction, the director owned 52,012 shares of the company’s stock, valued at approximately $3,998,682.56. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total value of $934,328.25. Following the completion of the transaction, the chief financial officer owned 162,905 shares of the company’s stock, valued at $11,623,271.75. This trade represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 26,065 shares of company stock valued at $1,912,662. Insiders own 3.60% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Arrowhead Pharmaceuticals by 30.2% during the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock worth $576,000 after buying an additional 10,496 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 1st quarter valued at approximately $514,000. Goldman Sachs Group Inc. raised its position in shares of Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after acquiring an additional 447,456 shares in the last quarter. Empowered Funds LLC raised its position in shares of Arrowhead Pharmaceuticals by 6.9% during the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock valued at $194,000 after acquiring an additional 979 shares in the last quarter. Finally, Focus Partners Wealth raised its position in shares of Arrowhead Pharmaceuticals by 1,339.5% during the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 15,123 shares in the last quarter. 62.61% of the stock is owned by institutional investors.

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.