Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Receives $53.45 Average PT from Brokerages

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $53.45.

A number of research firms recently weighed in on ARWR. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, February 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 7th. Bank of America upped their target price on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Citigroup upped their target price on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley upped their target price on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th.

Arrowhead Pharmaceuticals Trading Down 2.8 %

Shares of ARWR stock opened at $24.01 on Thursday. The stock has a market capitalization of $2.97 billion, a P/E ratio of -8.64 and a beta of 0.71. The firm’s 50 day moving average is $29.44 and its 200 day moving average is $29.02. Arrowhead Pharmaceuticals has a 12 month low of $20.67 and a 12 month high of $42.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.46). The business had revenue of $3.55 million for the quarter, compared to analysts’ expectations of $35.60 million. Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 90.77%. The business’s quarterly revenue was down 94.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.39) earnings per share. On average, equities analysts predict that Arrowhead Pharmaceuticals will post -2.7 EPS for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the transaction, the chief financial officer now owns 400,600 shares of the company’s stock, valued at approximately $14,097,114. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the transaction, the chief financial officer now owns 400,600 shares of the company’s stock, valued at approximately $14,097,114. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher Richard Anzalone sold 57,499 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $32.35, for a total transaction of $1,860,092.65. Following the transaction, the chief executive officer now directly owns 3,715,048 shares in the company, valued at approximately $120,181,802.80. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in Arrowhead Pharmaceuticals by 94.6% during the 1st quarter. Advisors Asset Management Inc. now owns 720 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 350 shares during the period. Washington Trust Advisors Inc. purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at $25,000. Point72 Asset Management L.P. purchased a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at $32,000. Fifth Third Bancorp boosted its position in Arrowhead Pharmaceuticals by 112.0% during the 3rd quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 522 shares during the period. Finally, Captrust Financial Advisors boosted its position in Arrowhead Pharmaceuticals by 22.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,201 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 220 shares during the period. Hedge funds and other 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.