Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Receives $47.89 Average Price Target from Analysts

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $47.89.

Several research firms have recently weighed in on ARWR. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, June 20th. HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, June 11th. Morgan Stanley dropped their target price on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price target for the company. Finally, Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Victoria Vakiener sold 1,799 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total transaction of $41,934.69. Following the sale, the director now owns 30,205 shares of the company’s stock, valued at $704,078.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in shares of Arrowhead Pharmaceuticals by 58.2% in the 3rd quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock worth $115,780,000 after purchasing an additional 1,584,425 shares in the last quarter. Norges Bank acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $40,451,000. Goldman Sachs Group Inc. raised its position in shares of Arrowhead Pharmaceuticals by 136.6% in 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. Eventide Asset Management LLC acquired a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $9,587,000. Finally, Avoro Capital Advisors LLC grew its position in Arrowhead Pharmaceuticals by 100.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,130,000 shares of the biotechnology company’s stock worth $34,578,000 after purchasing an additional 565,000 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ:ARWR opened at $25.99 on Tuesday. Arrowhead Pharmaceuticals has a 12 month low of $20.67 and a 12 month high of $39.83. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -6.12 and a beta of 0.94. The firm’s 50-day moving average is $24.42 and its 200 day moving average is $28.36.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 140.72%. During the same period in the prior year, the firm posted $0.45 EPS. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. As a group, equities analysts forecast that Arrowhead Pharmaceuticals will post -3.05 EPS for the current fiscal year.

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.