Arrowhead Pharmaceuticals (NASDAQ:ARWR) Raised to Sell at StockNews.com

StockNews.com upgraded shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) to a sell rating in a research note issued to investors on Thursday.

A number of other analysts have also recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Piper Sandler reaffirmed an “overweight” rating and set a $62.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. B. Riley restated a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $45.33.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $21.18 on Thursday. The business’s fifty day moving average is $21.35 and its 200-day moving average is $23.93. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $39.83. The stock has a market cap of $2.63 billion, a PE ratio of -4.98 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.80). During the same period in the previous year, the company posted ($0.96) EPS. Arrowhead Pharmaceuticals’s revenue for the quarter was down 100.0% on a year-over-year basis. Equities research analysts predict that Arrowhead Pharmaceuticals will post -4.31 earnings per share for the current year.

Institutional Trading of Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp lifted its position in Arrowhead Pharmaceuticals by 42.5% in the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 354 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 7,696.8% during the 1st quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 2,386 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 3,333 shares in the last quarter. nVerses Capital LLC bought a new stake in Arrowhead Pharmaceuticals in the second quarter valued at about $96,000. Finally, Quarry LP raised its holdings in shares of Arrowhead Pharmaceuticals by 54.5% in the 2nd quarter. Quarry LP now owns 8,500 shares of the biotechnology company’s stock worth $221,000 after buying an additional 3,000 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

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.