Research Analysts Issue Forecasts for Arrowhead Pharmaceuticals, Inc.’s FY2024 Earnings (NASDAQ:ARWR)

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) – Analysts at Chardan Capital cut their FY2024 earnings estimates for Arrowhead Pharmaceuticals in a research report issued to clients and investors on Sunday, August 11th. Chardan Capital analyst K. Nakae now expects that the biotechnology company will earn ($4.77) per share for the year, down from their previous estimate of ($3.92). Chardan Capital has a “Buy” rating and a $60.00 price objective on the stock. The consensus estimate for Arrowhead Pharmaceuticals’ current full-year earnings is ($3.04) per share. Chardan Capital also issued estimates for Arrowhead Pharmaceuticals’ FY2025 earnings at ($4.27) EPS.

ARWR has been the subject of several other research reports. B. Riley reiterated a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday. The Goldman Sachs Group initiated coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, June 20th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Arrowhead Pharmaceuticals Stock Down 0.2 %

Shares of Arrowhead Pharmaceuticals stock opened at $22.66 on Wednesday. Arrowhead Pharmaceuticals has a 52 week low of $20.67 and a 52 week high of $39.83. The business has a 50 day moving average price of $26.15 and a 200-day moving average price of $26.96. The company has a market cap of $2.81 billion, a PE ratio of -5.33 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its 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). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. The business’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.96) earnings per share.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider Tracie Oliver sold 9,394 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Avoro Capital Advisors LLC raised its position in shares of Arrowhead Pharmaceuticals by 657.1% in the first quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock valued at $244,689,000 after purchasing an additional 7,425,555 shares during the period. Vanguard Group Inc. raised its holdings in Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after acquiring an additional 1,731,974 shares during the period. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $40,451,000. Goldman Sachs Group Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 136.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after acquiring an additional 613,067 shares during the period. Finally, Capital International Investors grew its position in shares of Arrowhead Pharmaceuticals by 55.2% in the fourth quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock valued at $39,093,000 after purchasing an additional 454,631 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.