Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $95.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on Arrowhead Pharmaceuticals from $88 to $95 and kept an overweight rating, implying about 29% upside from the stock’s current price.
• Other analysts have also turned more positive on ARWR, with multiple firms lifting targets; the stock now carries a consensus Moderate Buy rating and an average price target of $88.75.
• Arrowhead recently reported quarterly EPS of -$0.93, beating estimates, while revenue came in roughly in line with expectations. The shares also traded higher on the day, and institutional investors own a majority of the stock.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $88.00 to $95.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 29.18% from the company's current price.

Several other research firms have also recently weighed in on ARWR. Chardan Capital reaffirmed a "buy" rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, June 30th. Royal Bank Of Canada boosted their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $78.00 to $100.00 in a report on Tuesday, April 21st. Sanford C. Bernstein increased 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. Finally, Weiss Ratings cut shares of Arrowhead Pharmaceuticals from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Wednesday, May 20th. 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $88.75.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR traded up $2.16 during midday trading on Friday, reaching $73.54. The company's stock had a trading volume of 811,664 shares, compared to its average volume of 2,457,135. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. The company has a market cap of $10.36 billion, a P/E ratio of -34.16 and a beta of 1.26. The business's 50 day moving average price is $77.59 and its two-hundred day moving average price is $69.45. Arrowhead Pharmaceuticals has a fifty-two week low of $14.30 and a fifty-two week high of $87.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping analysts' consensus estimates of ($1.10) by $0.17. The firm had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The company's revenue was down 86.4% on a year-over-year basis. During the same quarter last year, the company earned $2.75 EPS. On average, analysts forecast that Arrowhead Pharmaceuticals will post -3.07 EPS for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, CFO Daniel Joseph Apel sold 13,095 shares of the company's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the transaction, the chief financial officer directly owned 162,905 shares in the company, valued at $11,623,271.75. This represents a 7.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the firm's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the sale, the insider owned 226,958 shares in the company, valued at $17,021,850. This represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 26,065 shares of company stock valued at $1,912,662. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its holdings 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 worth $71,797,000 after purchasing an additional 2,017,489 shares during the last quarter. Norges Bank acquired a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $113,159,000. Fred Alger Management LLC boosted its position 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 worth $121,693,000 after buying an additional 1,526,164 shares during the period. Renaissance Technologies LLC acquired a new stake in Arrowhead Pharmaceuticals during the 1st quarter worth approximately $64,988,000. Finally, Deerfield Management Company L.P. bought a new stake in Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $34,249,000. Institutional investors and hedge funds own 62.61% of the company's stock.

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.

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