Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Receives $44.25 Consensus Target Price from Analysts

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $44.25.

A number of brokerages have recently issued reports on ARWR. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Thursday, June 20th. Morgan Stanley reduced their price objective on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a research note 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 issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, July 23rd. Finally, B. Riley restated a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th.

Arrowhead Pharmaceuticals Stock Up 0.2 %

NASDAQ ARWR opened at $22.70 on Wednesday. The stock’s 50-day simple moving average is $26.13 and its two-hundred day simple moving average is $26.80. Arrowhead Pharmaceuticals has a twelve month low of $20.67 and a twelve month high of $39.83. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -5.34 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share 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%. The business’s revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.96) earnings per share. On average, equities analysts expect that Arrowhead Pharmaceuticals will post -3.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred 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 sale, the insider now directly owns 127,107 shares in the company, valued at $3,213,264.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Arrowhead Pharmaceuticals by 16.2% in the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after acquiring an additional 1,731,974 shares during the period. Avoro Capital Advisors LLC increased its stake in shares of Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after purchasing an additional 333,333 shares in the last quarter. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $40,451,000. Capital International Investors lifted its stake in shares of Arrowhead Pharmaceuticals by 55.2% during 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. Finally, Bank of New York Mellon Corp boosted its holdings in Arrowhead Pharmaceuticals by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after buying an additional 30,086 shares during the period. Hedge funds and other institutional investors own 62.61% 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 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.