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

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

Other research analysts have also issued reports about the stock. Citigroup reduced their target price on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Chardan Capital restated a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Finally, B. Riley restated a "buy" rating and issued a $38.00 target price (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $15.74 on Friday. Arrowhead Pharmaceuticals has a 52 week low of $9.57 and a 52 week high of $30.41. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The firm's 50-day simple moving average is $14.25 and its 200 day simple moving average is $17.26. The firm has a market capitalization of $2.17 billion, a PE ratio of -3.04 and a beta of 0.96.

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 the consensus estimate of ($0.06) by $2.81. The business had revenue of $542.71 million during the quarter, compared to analysts' expectations of $116.27 million. During the same quarter in the prior year, the firm earned ($1.02) earnings per share. On average, equities research analysts predict that Arrowhead Pharmaceuticals will post -2.42 EPS for the current fiscal year.

Insider Activity

In other news, CEO Christopher Richard Anzalone sold 50,800 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $11.49, for a total transaction of $583,692.00. Following the completion of the transaction, the chief executive officer now owns 3,921,255 shares of the company's stock, valued at $45,055,219.95. This represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.30% of the company's stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of ARWR. Empowered Funds LLC acquired a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $268,000. Van ECK Associates Corp increased its position in Arrowhead Pharmaceuticals by 72.3% during the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company's stock worth $56,000 after purchasing an additional 1,250 shares in the last quarter. Rhumbline Advisers increased its position in Arrowhead Pharmaceuticals by 2.1% during the 4th quarter. Rhumbline Advisers now owns 380,344 shares of the biotechnology company's stock worth $7,150,000 after purchasing an additional 7,912 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Arrowhead Pharmaceuticals by 40.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 112,858 shares of the biotechnology company's stock worth $2,122,000 after purchasing an additional 32,551 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in Arrowhead Pharmaceuticals by 15.4% during the 4th quarter. Handelsbanken Fonder AB now owns 41,200 shares of the biotechnology company's stock worth $775,000 after purchasing an additional 5,500 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company's stock.

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.

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