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

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $44.25.

Several research analysts recently weighed in on ARWR shares. B. Riley reaffirmed a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. The Goldman Sachs Group assumed coverage on Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday.

Arrowhead Pharmaceuticals Stock Down 1.3 %

Shares of ARWR opened at $21.47 on Friday. The business has a 50-day simple moving average of $25.51 and a two-hundred day simple moving average of $25.93. Arrowhead Pharmaceuticals has a 52 week low of $20.67 and a 52 week high of $39.83. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -5.05 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) 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 quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.96) earnings per share. On average, equities analysts anticipate that Arrowhead Pharmaceuticals will post -4.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Tracie Oliver sold 9,394 shares of the 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 owns 127,107 shares in the company, valued at approximately $3,213,264.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 last quarter. Avoro Capital Advisors LLC lifted its position in shares of Arrowhead Pharmaceuticals by 3.9% during 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 during the last quarter. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $40,451,000. Capital International Investors boosted its stake in shares of Arrowhead Pharmaceuticals by 55.2% during the fourth quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock valued at $39,093,000 after purchasing an additional 454,631 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Arrowhead Pharmaceuticals by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after purchasing an additional 30,086 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.