Arrowhead Pharmaceuticals (NASDAQ:ARWR) Raised to Hold at Wall Street Zen

Key Points

• Arrowhead Pharmaceuticals was upgraded by Wall Street Zen from sell to hold, adding to a mixed but generally positive analyst backdrop. The stock currently carries an average analyst rating of Moderate Buy with an average price target of $86.36.
• The company reported quarterly earnings of -$0.93 per share, beating estimates, while revenue came in at $73.74 million, roughly in line with expectations. Despite the beat, revenue was down sharply year over year and analysts expect the company to post -3 EPS for the current year.
• Recent insider activity showed executives sold shares, including CFO Daniel Joseph Apel and insider James C. Hamilton, while institutional investors continue to hold a significant stake. Institutions own 62.61% of the stock, suggesting continued large-scale investor interest.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

ARWR has been the topic of a number of other reports. Leerink Partners lifted their price target on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. began coverage on Arrowhead Pharmaceuticals in a research note on Friday, May 1st. They set an "overweight" rating and a $88.00 price objective for the company. Royal Bank Of Canada raised their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Weiss Ratings lowered shares of Arrowhead Pharmaceuticals from a "hold (c-)" rating to a "sell (d-)" rating in a report on Wednesday, May 20th. Finally, Sanford C. Bernstein increased their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $86.36.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR opened at $78.89 on Friday. The company has a 50-day simple moving average of $75.60 and a two-hundred day simple moving average of $68.34. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals has a 12-month low of $14.30 and a 12-month high of $84.55. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of -36.69 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The firm had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. During the same quarter in the previous year, the business earned $2.75 earnings per share. The company's quarterly revenue was down 86.4% on a year-over-year basis. On average, equities analysts forecast that Arrowhead Pharmaceuticals will post -3 EPS for the current year.

Insider Activity

In related news, CFO Daniel Joseph Apel sold 13,095 shares of the business's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the transaction, the chief financial officer owned 162,905 shares in the company, valued at $11,623,271.75. The trade was a 7.44% decrease in their ownership of the stock. The sale was disclosed in a filing 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 dated 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 sale, the insider owned 226,958 shares of the company's stock, valued at $17,021,850. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 26,065 shares of company stock valued at $1,912,662. Corporate insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in ARWR. Royal Bank of Canada grew its position in shares of Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company's stock worth $576,000 after buying an additional 10,496 shares during the period. AQR Capital Management LLC purchased a new stake in Arrowhead Pharmaceuticals in the first quarter worth about $514,000. Goldman Sachs Group Inc. grew its holdings in Arrowhead Pharmaceuticals by 34.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company's stock worth $22,189,000 after purchasing an additional 447,456 shares during the period. Empowered Funds LLC increased its stake in shares of Arrowhead Pharmaceuticals by 6.9% during the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company's stock valued at $194,000 after purchasing an additional 979 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Arrowhead Pharmaceuticals by 1,339.5% during the first quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company's stock valued at $207,000 after purchasing an additional 15,123 shares during the last quarter. Institutional investors 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.

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.