Arrowhead Pharmaceuticals (NASDAQ:ARWR) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

ARWR has been the subject of several other reports. Robert W. Baird began coverage on Arrowhead Pharmaceuticals in a research note on Wednesday, October 2nd. They set an outperform rating and a $39.00 target price for the company. ValuEngine downgraded shares of Arrowhead Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 2nd. Piper Jaffray Companies reiterated an overweight rating and set a $50.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, September 16th. Cantor Fitzgerald downgraded shares of Arrowhead Pharmaceuticals from an overweight rating to a neutral rating and set a $24.00 price target for the company. in a report on Thursday, June 27th. Finally, B. Riley upped their price target on shares of Arrowhead Pharmaceuticals from $32.00 to $46.00 and gave the stock a buy rating in a report on Monday, August 19th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Arrowhead Pharmaceuticals has a consensus rating of Buy and a consensus target price of $36.70.

NASDAQ ARWR traded up $0.72 on Wednesday, hitting $31.95. 6,267 shares of the company’s stock were exchanged, compared to its average volume of 1,387,245. The stock has a 50-day moving average of $30.68 and a 200-day moving average of $25.64. Arrowhead Pharmaceuticals has a 52 week low of $10.41 and a 52 week high of $36.80. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -48.74 and a beta of 1.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.13). Arrowhead Pharmaceuticals had a return on equity of 26.27% and a net margin of 33.28%. The business had revenue of $42.70 million for the quarter, compared to the consensus estimate of $59.05 million. On average, equities research analysts anticipate that Arrowhead Pharmaceuticals will post 0.75 EPS for the current year.

In related news, CEO Christopher Richard Anzalone sold 66,645 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $28.20, for a total value of $1,879,389.00. Following the completion of the sale, the chief executive officer now directly owns 2,146,153 shares in the company, valued at $60,521,514.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael S. Perry sold 100,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.90, for a total value of $2,890,000.00. Following the completion of the sale, the director now owns 121,000 shares of the company’s stock, valued at $3,496,900. The disclosure for this sale can be found here. Insiders have sold 255,895 shares of company stock valued at $7,442,639 over the last quarter. Company insiders own 4.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arden Trust Co acquired a new stake in Arrowhead Pharmaceuticals in the third quarter valued at $201,000. State of Alaska Department of Revenue increased its holdings in Arrowhead Pharmaceuticals by 126.9% in the third quarter. State of Alaska Department of Revenue now owns 73,212 shares of the biotechnology company’s stock valued at $2,063,000 after purchasing an additional 40,947 shares during the period. BlackRock Inc. increased its holdings in Arrowhead Pharmaceuticals by 94.5% in the second quarter. BlackRock Inc. now owns 14,841,966 shares of the biotechnology company’s stock valued at $393,313,000 after purchasing an additional 7,210,892 shares during the period. Royal Bank of Canada increased its holdings in Arrowhead Pharmaceuticals by 1.2% in the second quarter. Royal Bank of Canada now owns 71,303 shares of the biotechnology company’s stock valued at $1,889,000 after purchasing an additional 842 shares during the period. Finally, United Services Automobile Association increased its holdings in Arrowhead Pharmaceuticals by 2.6% in the second quarter. United Services Automobile Association now owns 20,515 shares of the biotechnology company’s stock valued at $544,000 after purchasing an additional 522 shares during the period. Institutional investors and hedge funds own 71.91% 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 pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.

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Analyst Recommendations for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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