HC Wainwright Reaffirms Buy Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Key Points

• HC Wainwright reaffirmed a Buy rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR) with a target price of $80.00, signaling a potential upside of 223.62% from its current price.
• The company's stock has received a consensus rating of Buy, with a current average price target of $43.14 and varying ratings from other brokerages.
• Arrowhead Pharmaceuticals reported (-$1.26) earnings per share for the last quarter, missing estimates, and had revenues of $27.77 million compared to expectations of $29.01 million.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $80.00 target price on the biotechnology company's stock. HC Wainwright's target price indicates a potential upside of 223.62% from the stock's current price.

A number of other brokerages have also recently commented on ARWR. B. Riley upgraded Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 11th. TD Cowen raised shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 28th. Chardan Capital restated a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. Citigroup cut their price objective 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. Finally, Wall Street Zen downgraded shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $43.14.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock traded up $2.69 during trading hours on Tuesday, reaching $24.72. 2,190,331 shares of the company's stock were exchanged, compared to its average volume of 1,966,409. The company's 50 day moving average is $17.84 and its two-hundred day moving average is $16.00. The company has a market cap of $3.42 billion, a P/E ratio of -19.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87. Arrowhead Pharmaceuticals has a 1 year low of $9.57 and a 1 year high of $27.34.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The business had revenue of $27.77 million for the quarter, compared to the consensus estimate of $29.01 million. During the same quarter in the prior year, the firm earned ($1.38) EPS. Equities research analysts anticipate that Arrowhead Pharmaceuticals will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 9,389 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $20.00, for a total transaction of $187,780.00. Following the completion of the sale, the insider directly owned 262,122 shares of the company's stock, valued at approximately $5,242,440. This represents a 3.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ARWR. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 1,018,273 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 valued at $60,962,000 after acquiring an additional 2,774,933 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 1.0% during the second quarter. Geode Capital Management LLC now owns 2,978,505 shares of the biotechnology company's stock valued at $47,067,000 after purchasing an additional 28,193 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Arrowhead Pharmaceuticals by 0.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,528,982 shares of the biotechnology company's stock worth $32,220,000 after purchasing an additional 21,686 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Arrowhead Pharmaceuticals by 3,507.8% in the second quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company's stock valued at $34,065,000 after purchasing an additional 2,096,238 shares during the period. 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.

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.