Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given Outperform Rating at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reiterated its Outperform rating on Arrowhead Pharmaceuticals and set a $100 price target, implying 115.75% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat reports a Moderate Buy consensus and an average price target of $98.93.
• ARWR fell $0.80 to $46.35 on Friday, well below its 52-week high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report)'s stock had its "outperform" rating restated by Royal Bank Of Canada in a note issued to investors on Friday, Benzinga reports. They currently have a $100.00 target price on the biotechnology company's stock. Royal Bank Of Canada's price target would indicate a potential upside of 115.75% from the stock's previous close.

ARWR has been the topic of several other reports. Piper Sandler restated an "overweight" rating and set a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Chardan Capital reiterated a "buy" rating and issued a $115.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, October 15th. Citigroup assumed coverage on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 8th. They issued a "buy" rating and a $108.00 price objective for the company. Morgan Stanley lifted their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $98.93.

Arrowhead Pharmaceuticals Price Performance

ARWR traded down $0.80 on Friday, reaching $46.35. The stock had a trading volume of 571,940 shares, compared to its average volume of 2,247,319. Arrowhead Pharmaceuticals has a fifty-two week low of $37.06 and a fifty-two week high of $95.49. The firm has a 50-day moving average of $64.09 and a 200-day moving average of $71.10. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of -20.65 and a beta of 1.34.

Insider Activity

In other news, Director Adeoye Olukotun sold 2,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the transaction, the director directly owned 31,600 shares in the company, valued at $2,747,936. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Perry sold 11,600 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total value of $1,012,680.00. Following the transaction, the director owned 111,459 shares of the company's stock, valued at $9,730,370.70. This trade represents a 9.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Xcelsior Advisor Partners LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $1,365,000. Benjamin Edwards Inc. increased its stake in shares of Arrowhead Pharmaceuticals by 22.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 10,851 shares of the biotechnology company's stock valued at $710,000 after acquiring an additional 2,010 shares in the last quarter. Edgewood Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 20.0% in the 3rd quarter. Edgewood Management LLC now owns 30,000 shares of the biotechnology company's stock valued at $1,964,000 after acquiring an additional 5,000 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Arrowhead Pharmaceuticals by 8.9% during the 3rd quarter. Global Retirement Partners LLC now owns 5,988 shares of the biotechnology company's stock valued at $392,000 after acquiring an additional 490 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter valued at $1,620,000. Institutional investors own 62.61% of the company's stock.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals is a biotechnology company that develops medicines using RNA interference (RNAi), a biological process that can reduce the production of specific proteins by silencing the genes that encode them. Its proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi treatments to targeted tissues. The company's research and development programs address a range of conditions, including liver, cardiometabolic, pulmonary and neurological diseases. Its work centers on investigational medicines and drug-development partnerships.

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