Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $87.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target on Arrowhead to $87 (from $80) and kept an "outperform" rating, implying roughly an 18% upside from the current share price.
• Arrowhead reported EPS of –$0.93, beating the consensus (–$1.11), while revenue was $73.74M (in line with estimates) but down 86.4% year‑over‑year
• The stock carries an average analyst rating of "Moderate Buy" with an average price target of $84.90, and several firms have recently raised targets (e.g., Piper Sandler $110, B. Riley $101, JPMorgan $88).

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) had its target price lifted by research analysts at Royal Bank Of Canada from $80.00 to $87.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the biotechnology company's stock. Royal Bank Of Canada's price objective indicates a potential upside of 18.15% from the stock's current price.

Several other equities analysts have also commented on ARWR. Piper Sandler reiterated an "overweight" rating and set a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. B. Riley Financial upped their target price on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. HC Wainwright reissued a "buy" rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, March 25th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Arrowhead Pharmaceuticals in a report on Friday, May 1st. They issued an "overweight" rating and a $88.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $84.90.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR traded down $4.32 during trading on Friday, reaching $73.64. The company had a trading volume of 1,299,035 shares, compared to its average volume of 2,604,891. The company has a fifty day moving average of $64.30 and a two-hundred day moving average of $60.36. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $10.31 billion, a P/E ratio of 48.39 and a beta of 1.28. Arrowhead Pharmaceuticals has a 12 month low of $12.89 and a 12 month high of $79.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.11) by $0.18. Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The company had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. During the same period in the previous year, the business earned $2.75 earnings per share. The firm's quarterly revenue was down 86.4% compared to the same quarter last year. Equities research analysts forecast that Arrowhead Pharmaceuticals will post -3.18 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, CFO Daniel Joseph Apel sold 13,095 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the sale, the chief financial officer owned 162,905 shares of the company's stock, valued at approximately $11,623,271.75. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Also, insider James C. Hamilton sold 10,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the transaction, the insider directly owned 226,958 shares in the company, valued at approximately $17,021,850. The trade was a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 33,095 shares of company stock worth $2,326,228. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ARWR. Arrowstreet Capital Limited Partnership raised its stake in shares of Arrowhead Pharmaceuticals by 3,142.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company's stock valued at $71,797,000 after acquiring an additional 2,017,489 shares during the last quarter. Norges Bank purchased a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at about $113,159,000. Fred Alger Management LLC increased its holdings in Arrowhead Pharmaceuticals by 497.4% during 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 purchasing an additional 1,526,164 shares during the period. Deerfield Management Company L.P. bought a new position in Arrowhead Pharmaceuticals during the 3rd quarter valued at approximately $34,249,000. Finally, Vestal Point Capital LP bought a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at approximately $59,751,000. Institutional investors 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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