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

Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR - Free Report) from a hold rating to a buy rating in a report issued on Saturday.

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

Arrowhead Pharmaceuticals Stock Down 1.3%

NASDAQ ARWR traded down $0.20 during mid-day trading on Friday, hitting $15.50. The company's stock had a trading volume of 2,035,381 shares, compared to its average volume of 1,535,302. The company's 50 day simple moving average is $14.44 and its 200 day simple moving average is $17.05. Arrowhead Pharmaceuticals has a twelve month low of $9.57 and a twelve month high of $30.41. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -11.07, a PEG ratio of 18.47 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (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 analyst estimates of $116.27 million. During the same quarter in the prior year, the business earned ($1.02) earnings per share. Analysts anticipate that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

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 value of $583,692.00. Following the sale, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.30% of the company's stock.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Arrowhead Pharmaceuticals by 138.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company's stock worth $60,962,000 after acquiring an additional 2,774,933 shares during the last quarter. Avoro Capital Advisors LLC grew its position in Arrowhead Pharmaceuticals by 25.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company's stock valued at $208,889,000 after purchasing an additional 2,222,223 shares during the last quarter. Norges Bank purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at about $38,622,000. Vanguard Group Inc. grew its position in Arrowhead Pharmaceuticals by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company's stock valued at $168,201,000 after purchasing an additional 1,018,273 shares during the last quarter. Finally, Farallon Capital Management LLC purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at about $11,821,000. Hedge funds and other institutional investors own 62.61% of the company's stock.

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.