Royal Bank of Canada Reaffirms Outperform Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Royal Bank of Canada reiterated their outperform rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report issued on Thursday morning, Benzinga reports. They currently have a $42.00 price target on the biotechnology company’s stock.

Other equities analysts have also issued reports about the company. B. Riley reaffirmed a buy rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Cantor Fitzgerald restated an overweight rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. HC Wainwright reaffirmed a buy rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 3rd. The Goldman Sachs Group initiated coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They set a neutral rating and a $31.00 target price for the company. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a sell rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $43.25.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $19.67 on Thursday. Arrowhead Pharmaceuticals has a 12 month low of $19.07 and a 12 month high of $39.83. The stock’s 50 day moving average price is $23.76 and its 200 day moving average price is $24.82. The stock has a market cap of $2.44 billion, a P/E ratio of -4.63 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. During the same quarter last year, the company posted ($0.96) earnings per share. Arrowhead Pharmaceuticals’s quarterly revenue was down 100.0% compared to the same quarter last year. Equities analysts anticipate that Arrowhead Pharmaceuticals will post -4.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tracie Oliver sold 9,394 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the sale, the insider now owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 657.1% during the 1st quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock valued at $244,689,000 after buying an additional 7,425,555 shares during the period. Vanguard Group Inc. increased its position in Arrowhead Pharmaceuticals by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after purchasing an additional 1,731,974 shares during the last quarter. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $40,451,000. Goldman Sachs Group Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 136.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock valued at $32,496,000 after buying an additional 613,067 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of Arrowhead Pharmaceuticals by 55.2% in the 4th quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock valued at $39,093,000 after buying an additional 454,631 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.