Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Given Average Recommendation of “Moderate Buy” by Brokerages

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $44.25.

Several analysts have recently weighed in on ARWR shares. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Thursday, June 20th. B. Riley reiterated a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. The Goldman Sachs Group started coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total transaction of $237,480.32. Following the completion of the transaction, the insider now owns 127,107 shares in the company, valued at $3,213,264.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ARWR. Fifth Third Bancorp grew its holdings in shares of Arrowhead Pharmaceuticals by 42.5% during the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after buying an additional 354 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter worth approximately $41,000. Quest Partners LLC acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter worth approximately $45,000. Headlands Technologies LLC increased its position in Arrowhead Pharmaceuticals by 7,696.8% during the first quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 2,386 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Arrowhead Pharmaceuticals by 22.9% during the fourth quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 447 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Up 1.1 %

Shares of NASDAQ:ARWR opened at $23.60 on Wednesday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -5.55 and a beta of 0.94. The firm’s 50-day simple moving average is $26.08 and its 200-day simple moving average is $26.68. Arrowhead Pharmaceuticals has a fifty-two week low of $20.67 and a fifty-two week high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 140.72%. The firm’s revenue was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.96) earnings per share. On average, research analysts forecast that Arrowhead Pharmaceuticals will post -3.04 EPS for the current year.

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.