Arrowhead Pharmaceuticals (NASDAQ:ARWR) Coverage Initiated by Analysts at Citigroup

Key Points

• Citigroup initiated coverage of Arrowhead Pharmaceuticals with a “buy” rating and a $108 price target, implying approximately 25% upside from the reported share price.
• Analyst sentiment is broadly positive: 10 analysts rate the stock Buy, three Hold, and one Sell, producing a “Moderate Buy” consensus and an average price target of $99.15.
• Arrowhead’s latest quarter showed strong revenue growth of 171% year over year to $75.25 million, but the company missed EPS expectations and remains unprofitable, reporting a $1.36 per-share loss.

Investment analysts at Citigroup began coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set a "buy" rating and a $108.00 price target on the biotechnology company's stock. Citigroup's target price suggests a potential upside of 25.09% from the company's current price.

A number of other analysts have also issued reports on ARWR. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. Wall Street Zen raised Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th. Stifel Nicolaus initiated coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They issued a "buy" rating and a $98.00 price objective on the stock. Leerink Partners boosted their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 17th. Finally, Chardan Capital reiterated a "buy" rating and set a $115.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 31st. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.15.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $86.34 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. Arrowhead Pharmaceuticals has a fifty-two week low of $27.10 and a fifty-two week high of $95.49. The firm has a fifty day moving average price of $84.23 and a two-hundred day moving average price of $74.55. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of -38.37 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The business had revenue of $75.25 million during the quarter, compared to analyst estimates of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The company's revenue for the quarter was up 171.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.26) earnings per share. As a group, analysts forecast that Arrowhead Pharmaceuticals will post -3.62 earnings per share for the current year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Adeoye Olukotun sold 2,000 shares of the firm's 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 completion of the sale, the director owned 31,600 shares in the company, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Perry sold 11,600 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the sale, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. This represents a 9.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its holdings in shares of Arrowhead Pharmaceuticals by 243.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 201,927 shares of the biotechnology company's stock worth $16,459,000 after buying an additional 143,192 shares in the last quarter. Siren L.L.C. grew its position in Arrowhead Pharmaceuticals by 7.7% in the first quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company's stock valued at $101,290,000 after acquiring an additional 115,000 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at $2,541,000. Baader Bank Aktiengesellschaft acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter worth $912,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Arrowhead Pharmaceuticals during the first quarter worth $751,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.