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

StockNews.com upgraded shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) to a sell rating in a research report report published on Thursday morning.

Several other analysts have also recently weighed in on the stock. Cantor Fitzgerald reiterated an overweight rating on shares of Arrowhead Pharmaceuticals in a report on Thursday, June 20th. The Goldman Sachs Group began coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They issued a neutral rating and a $31.00 price target on the stock. Morgan Stanley cut their price target on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an equal weight rating on the stock in a report on Monday, May 13th. Chardan Capital reiterated a buy rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Finally, HC Wainwright reiterated a buy rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of Hold and a consensus target price of $43.25.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $26.22 on Thursday. Arrowhead Pharmaceuticals has a 52-week low of $20.67 and a 52-week high of $39.83. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -6.17 and a beta of 0.94. The company’s 50 day moving average price is $26.17 and its 200-day moving average price is $27.46.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. The firm’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. As a group, equities research analysts forecast that Arrowhead Pharmaceuticals will post -3.04 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the transaction, the insider now owns 127,107 shares of the company’s stock, valued at approximately $3,213,264.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently modified their holdings of the stock. TD Asset Management Inc raised its position in Arrowhead Pharmaceuticals by 90.8% in the 2nd quarter. TD Asset Management Inc now owns 54,200 shares of the biotechnology company’s stock worth $1,409,000 after buying an additional 25,800 shares during the last quarter. Rhumbline Advisers raised its position in Arrowhead Pharmaceuticals by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 383,029 shares of the biotechnology company’s stock worth $9,955,000 after buying an additional 10,924 shares during the last quarter. Privium Fund Management B.V. raised its position in Arrowhead Pharmaceuticals by 4.7% in the 2nd quarter. Privium Fund Management B.V. now owns 286,936 shares of the biotechnology company’s stock worth $7,237,000 after buying an additional 13,000 shares during the last quarter. nVerses Capital LLC purchased a new position in Arrowhead Pharmaceuticals in the 2nd quarter worth about $96,000. Finally, Commonwealth Equity Services LLC raised its position in Arrowhead Pharmaceuticals by 3.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 34,663 shares of the biotechnology company’s stock worth $901,000 after buying an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.