Analysts Set Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Target Price at $47.89

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $47.89.

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, June 20th. Morgan Stanley cut their price objective on 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. The Goldman Sachs Group initiated coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, June 11th. Finally, Chardan Capital reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, Director Victoria Vakiener sold 1,799 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $41,934.69. Following the completion of the transaction, the director now directly owns 30,205 shares of the company’s stock, valued at approximately $704,078.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors 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 worth $244,689,000 after purchasing an additional 7,425,555 shares during the last quarter. Vanguard Group Inc. boosted its position in Arrowhead Pharmaceuticals by 16.2% during the first 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 last quarter. FMR LLC grew its stake in Arrowhead Pharmaceuticals by 58.2% in the 3rd quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock worth $115,780,000 after acquiring an additional 1,584,425 shares during the period. Norges Bank acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at $40,451,000. Finally, Goldman Sachs Group Inc. lifted its stake 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 purchasing an additional 613,067 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Up 1.2 %

ARWR opened at $25.99 on Tuesday. The business’s 50 day moving average is $24.42 and its two-hundred day moving average is $28.36. Arrowhead Pharmaceuticals has a 52 week low of $20.67 and a 52 week high of $39.83. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -6.12 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. Arrowhead Pharmaceuticals’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. Equities analysts expect that Arrowhead Pharmaceuticals will post -3.05 EPS for the current fiscal year.

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.