B. Riley Reaffirms “Buy” Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reissued by B. Riley in a note issued to investors on Friday,Benzinga reports. They currently have a $38.00 price objective on the biotechnology company’s stock, down from their prior price objective of $51.00. B. Riley’s price target would indicate a potential upside of 90.48% from the stock’s previous close. B. Riley also issued estimates for Arrowhead Pharmaceuticals’ FY2025 earnings at $1.15 EPS.

ARWR has been the subject of several other research reports. Chardan Capital reaffirmed a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Sanford C. Bernstein lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Piper Sandler lowered their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.44.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $19.95 on Friday. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $36.72. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The firm has a market capitalization of $2.50 billion, a P/E ratio of -3.97 and a beta of 0.95. The company’s 50 day moving average price is $20.00 and its two-hundred day moving average price is $21.10.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly 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). On average, equities analysts forecast that Arrowhead Pharmaceuticals will post -3.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the sale, the director now directly owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. The trade was a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Richard Anzalone sold 12,563 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $19.59, for a total transaction of $246,109.17. Following the completion of the sale, the chief executive officer now directly owns 3,775,772 shares of the company’s stock, valued at approximately $73,967,373.48. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,432 shares of company stock valued at $2,957,986. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARWR. Avoro Capital Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 25.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock valued at $208,889,000 after buying an additional 2,222,223 shares during the last quarter. Norges Bank acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $38,622,000. State Street Corp grew its holdings in shares of Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after buying an additional 516,569 shares during the last quarter. Slate Path Capital LP grew its holdings in shares of Arrowhead Pharmaceuticals by 7.1% during the fourth quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company’s stock valued at $98,362,000 after buying an additional 347,000 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 63.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 632,214 shares of the biotechnology company’s stock valued at $11,886,000 after buying an additional 244,527 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.