Arrowhead Pharmaceuticals' (ARWR) "Outperform" Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed its “Outperform” rating on Arrowhead Pharmaceuticals and maintained a $100 price target, implying 17.77% upside from the previous close.
• Analyst sentiment remains favorable, with nine Buy, three Hold, and one Sell rating; MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $98.42.
• Arrowhead reported quarterly revenue of $75.25 million, up 171% year over year and above estimates, but its loss of $1.36 per share was wider than expected.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report)'s stock had its "outperform" rating reaffirmed by Royal Bank Of Canada in a report issued on Monday,Benzinga reports. They presently have a $100.00 price objective on the biotechnology company's stock. Royal Bank Of Canada's target price points to a potential upside of 17.77% from the stock's previous close.

A number of other brokerages have also weighed in on ARWR. 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 objective for the company. HC Wainwright upped their target price on Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Chardan Capital reissued a "buy" rating and set a $115.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday. Finally, Sanford C. Bernstein raised their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 13th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.42.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR opened at $84.91 on Monday. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. The firm has a 50-day moving average of $83.64 and a two-hundred day moving average of $73.62. The stock has a market cap of $11.96 billion, a P/E ratio of -37.74 and a beta of 1.27. Arrowhead Pharmaceuticals has a 1-year low of $21.61 and a 1-year high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The business had revenue of $75.25 million for the quarter, compared to analyst estimates of $44.17 million. During the same quarter in the prior year, the business earned ($1.26) earnings per share. The firm's revenue was up 171.0% on a year-over-year basis. On average, research analysts expect that Arrowhead Pharmaceuticals will post -3.51 earnings per share for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the sale, the director owned 111,459 shares in the company, valued at $9,730,370.70. This represents a 9.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the transaction, the director directly owned 31,600 shares in the company, valued at approximately $2,747,936. This represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Arrowhead Pharmaceuticals during the second quarter valued at $1,208,838,000. California State Teachers Retirement System raised its holdings in shares of Arrowhead Pharmaceuticals by 7,797.6% during the second quarter. California State Teachers Retirement System now owns 11,397,217 shares of the biotechnology company's stock worth $928,987,000 after purchasing an additional 11,252,904 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Arrowhead Pharmaceuticals by 3,142.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company's stock worth $71,797,000 after buying an additional 2,017,489 shares during the last quarter. Norges Bank acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $113,159,000. Finally, Fred Alger Management LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 497.4% in the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company's stock valued at $121,693,000 after buying an additional 1,526,164 shares during the period. Institutional investors and hedge funds own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Company Profile

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.

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