Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Outperform Rating from Royal Bank of Canada

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $42.00 target price on the biotechnology company's stock. Royal Bank of Canada's price objective suggests a potential upside of 110.15% from the company's current price.

Several other equities research analysts have also recently issued reports on the stock. Chardan Capital restated a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Piper Sandler dropped their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. Sanford C. Bernstein decreased their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a "market perform" rating on the stock in a research report on Friday, November 29th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a "sell" rating in a research report on Friday, December 20th. Finally, HC Wainwright restated a "buy" rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $41.44.

Arrowhead Pharmaceuticals Stock Up 4.6 %

Shares of NASDAQ:ARWR traded up $0.88 during trading on Tuesday, reaching $19.99. 710,991 shares of the stock traded hands, compared to its average volume of 2,258,110. The stock has a 50-day moving average of $20.08 and a two-hundred day moving average of $21.22. Arrowhead Pharmaceuticals has a 52-week low of $17.05 and a 52-week high of $36.72. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The stock has a market cap of $2.50 billion, a P/E ratio of -3.98 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.97). As a group, sell-side analysts expect that Arrowhead Pharmaceuticals will post -3.4 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 32,729 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $648,688.78. Following the completion of the sale, the insider now directly owns 272,122 shares of the company's stock, valued at $5,393,458.04. The trade was a 10.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth Allen Myszkowski sold 27,167 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $19.83, for a total transaction of $538,721.61. Following the completion of the sale, the chief financial officer now directly owns 473,433 shares of the company's stock, valued at approximately $9,388,176.39. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,432 shares of company stock worth $2,957,986 in the last three months. Insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 25.0% in 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 in the last quarter. State Street Corp raised its holdings in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company's stock valued at $123,083,000 after purchasing an additional 516,569 shares in the last quarter. Slate Path Capital LP raised its stake in shares of Arrowhead Pharmaceuticals by 7.1% during the 4th quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company's stock worth $98,362,000 after acquiring an additional 347,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company's stock worth $57,426,000 after acquiring an additional 26,171 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth approximately $38,622,000. 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.