Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report issued on Friday, Benzinga reports. HC Wainwright currently has a $60.00 price objective on the biotechnology company’s stock.

Several other equities analysts also recently commented on ARWR. Piper Sandler reiterated an overweight rating and set a $62.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. Royal Bank of Canada reiterated an outperform rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a sell rating in a research report on Thursday, August 1st. B. Riley reaffirmed a buy rating and issued a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Finally, Chardan Capital reissued a buy rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $45.33.

Arrowhead Pharmaceuticals Trading Up 4.2 %

Shares of NASDAQ:ARWR opened at $18.44 on Friday. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -4.34 and a beta of 0.95. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $39.83. The business has a fifty day simple moving average of $21.81 and a 200 day simple moving average of $24.16.

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 analysts’ consensus estimates of ($0.58) by ($0.80). During the same period in the prior year, the firm earned ($0.96) earnings per share. Arrowhead Pharmaceuticals’s revenue for the quarter was down 100.0% compared to the same quarter last year. On average, sell-side analysts forecast that Arrowhead Pharmaceuticals will post -4.31 EPS for the current year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Eventide Asset Management LLC bought a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $9,587,000. Neo Ivy Capital Management acquired a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $41,000. Goldman Sachs Group Inc. lifted its holdings in 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 valued at $32,496,000 after purchasing an additional 613,067 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Arrowhead Pharmaceuticals by 63.8% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 95,000 shares of the biotechnology company’s stock valued at $2,907,000 after buying an additional 37,000 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Arrowhead Pharmaceuticals during the first quarter worth about $1,151,000. 62.61% of the stock is owned by institutional investors and hedge funds.

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.