Chardan Capital Analysts Reduce Earnings Estimates for Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) – Equities researchers at Chardan Capital reduced their FY2024 earnings per share (EPS) estimates for Arrowhead Pharmaceuticals in a research note issued on Sunday, August 11th. Chardan Capital analyst K. Nakae now anticipates that the biotechnology company will post earnings of ($4.77) per share for the year, down from their prior estimate of ($3.92). Chardan Capital has a “Buy” rating and a $60.00 price objective on the stock. The consensus estimate for Arrowhead Pharmaceuticals’ current full-year earnings is ($3.04) per share. Chardan Capital also issued estimates for Arrowhead Pharmaceuticals’ FY2025 earnings at ($4.27) EPS.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. During the same quarter in the prior year, the business posted ($0.96) EPS. The company’s quarterly revenue was down 100.0% compared to the same quarter last year.

Several other research analysts also recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Thursday, June 20th. B. Riley reiterated a “buy” rating and issued a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday. The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 23rd. Finally, Morgan Stanley lowered their price target on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $22.66 on Wednesday. The stock has a market capitalization of $2.81 billion, a P/E ratio of -5.33 and a beta of 0.94. The company’s 50 day simple moving average is $26.15 and its 200-day simple moving average is $26.96. Arrowhead Pharmaceuticals has a one year low of $20.67 and a one year high of $39.83.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, insider Tracie Oliver sold 9,394 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the transaction, the insider now directly owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several hedge funds have recently bought and sold shares of ARWR. Vanguard Group Inc. boosted its stake in shares of Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after acquiring an additional 1,731,974 shares during the period. Norges Bank acquired a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $40,451,000. Goldman Sachs Group Inc. boosted 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 worth $32,496,000 after buying an additional 613,067 shares during the period. Eventide Asset Management LLC acquired a new stake in Arrowhead Pharmaceuticals during the fourth quarter worth approximately $9,587,000. Finally, American International Group Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 13.4% during the first quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock worth $6,298,000 after acquiring an additional 26,009 shares during the period. 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.