Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research report sent to investors on Monday morning, Benzinga reports. Cantor Fitzgerald also issued estimates for Arrowhead Pharmaceuticals’ FY2024 earnings at ($4.78) EPS.

A number of other research firms have also weighed in on ARWR. The Goldman Sachs Group initiated coverage on Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They set a neutral rating and a $31.00 target price on the stock. Chardan Capital reaffirmed a buy rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Morgan Stanley decreased their price objective on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an equal weight rating on the stock in a report on Monday, May 13th. StockNews.com raised Arrowhead Pharmaceuticals to a sell rating in a report on Thursday, August 1st. Finally, HC Wainwright reaffirmed a buy rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of Moderate Buy and a consensus price target of $44.25.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR opened at $20.24 on Monday. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -4.76 and a beta of 0.96. The stock’s 50 day moving average price is $25.33 and its two-hundred day moving average price is $25.85. Arrowhead Pharmaceuticals has a 52 week low of $20.14 and a 52 week high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results 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%. The business’s revenue was down 100.0% compared to the same quarter last year. During the same period last year, the business posted ($0.96) EPS. On average, equities research analysts forecast that Arrowhead Pharmaceuticals will post -4.31 EPS for the current year.

Insider Activity

In related news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total transaction of $237,480.32. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ARWR. Vanguard Group Inc. lifted its stake 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 purchasing an additional 1,731,974 shares during the last quarter. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $40,451,000. Goldman Sachs Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 136.6% in 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 acquiring an additional 613,067 shares during the last quarter. Eventide Asset Management LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $9,587,000. Finally, American International Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 13.4% in the 1st quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock valued at $6,298,000 after acquiring an additional 26,009 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

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.