TD Cowen Upgrades Arrowhead Pharmaceuticals (NASDAQ:ARWR) to "Strong-Buy"

Key Points

• Arrowhead Pharmaceuticals has been upgraded to a "strong-buy" rating by TD Cowen, signaling positive outlook from analysts.
• The company reported an impressive $2.75 EPS for its latest quarter, surpassing analyst estimates significantly, as revenue reached $542.71 million.
• Current institutional holdings in Arrowhead Pharmaceuticals show a strong interest, with 62.61% of the stock owned by institutional investors, indicating solid investor confidence.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) was upgraded by equities researchers at TD Cowen to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

ARWR has been the subject of several other research reports. Citigroup reduced their price target on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. HC Wainwright restated a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. Wall Street Zen lowered shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Chardan Capital restated a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.

Arrowhead Pharmaceuticals Stock Up 0.8%

ARWR stock traded up $0.13 during midday trading on Monday, reaching $15.93. 1,519,077 shares of the company's stock traded hands, compared to its average volume of 1,894,845. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -11.38, a P/E/G ratio of 18.47 and a beta of 0.93. The firm's fifty day moving average price is $16.41 and its 200-day moving average price is $16.11. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.31. Arrowhead Pharmaceuticals has a 52 week low of $9.57 and a 52 week high of $27.34.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $2.81. The business had revenue of $542.71 million for the quarter, compared to the consensus estimate of $116.27 million. During the same quarter last year, the firm posted ($1.02) EPS. As a group, sell-side analysts forecast that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its holdings in Arrowhead Pharmaceuticals by 31.8% during the first quarter. Exchange Traded Concepts LLC now owns 49,247 shares of the biotechnology company's stock valued at $627,000 after purchasing an additional 11,879 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth about $651,000. GAMMA Investing LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 297.6% in the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock worth $28,000 after buying an additional 1,628 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Arrowhead Pharmaceuticals by 6.9% in the first quarter. New York State Teachers Retirement System now owns 148,376 shares of the biotechnology company's stock worth $1,890,000 after buying an additional 9,593 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 117.8% in the first quarter. Principal Financial Group Inc. now owns 629,075 shares of the biotechnology company's stock worth $8,014,000 after buying an additional 340,191 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.