Arrowhead Pharmaceuticals (NASDAQ:ARWR) Upgraded by Wall Street Zen to Buy Rating

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

Other equities research analysts also recently issued reports about the company. Citigroup dropped their target price on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. B. Riley restated a "buy" rating and set a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.71.

Arrowhead Pharmaceuticals Trading Up 2.1%

NASDAQ ARWR traded up $0.35 during trading hours on Friday, hitting $16.81. 1,235,465 shares of the company's stock were exchanged, compared to its average volume of 1,523,956. The business's 50 day moving average is $13.72 and its 200-day moving average is $17.35. Arrowhead Pharmaceuticals has a 12-month low of $9.57 and a 12-month high of $30.41. The firm has a market capitalization of $2.32 billion, a P/E ratio of -3.25 and a beta of 0.96. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09.

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

Insider Buying and Selling

In other news, CEO Christopher Richard Anzalone sold 40,322 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $10.07, for a total transaction of $406,042.54. Following the completion of the sale, the chief executive officer now directly owns 4,022,055 shares of the company's stock, valued at $40,502,093.85. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 142,547 shares of company stock worth $1,764,709 in the last three months. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $651,000. BNP Paribas Financial Markets lifted its holdings in shares of Arrowhead Pharmaceuticals by 59.5% during the fourth quarter. BNP Paribas Financial Markets now owns 88,029 shares of the biotechnology company's stock valued at $1,655,000 after purchasing an additional 32,841 shares during the last quarter. Empowered Funds LLC acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter valued at $268,000. Slate Path Capital LP raised its position in Arrowhead Pharmaceuticals by 7.1% during the fourth quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company's stock valued at $98,362,000 after buying an additional 347,000 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter valued at $434,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.