Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note released on Monday, Benzinga reports. Cantor Fitzgerald also issued estimates for Arrowhead Pharmaceuticals’ FY2024 earnings at ($4.78) EPS.

Several other analysts also recently weighed in on ARWR. The Goldman Sachs Group began coverage on Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They issued a neutral rating and a $31.00 price target on the stock. HC Wainwright restated a buy rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 3rd. StockNews.com raised Arrowhead Pharmaceuticals to a sell rating in a research report on Thursday, August 1st. Morgan Stanley lowered their price objective on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an equal weight rating on the stock in a research report on Monday, May 13th. Finally, B. Riley reaffirmed a buy rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $44.25.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $20.24 on Monday. Arrowhead Pharmaceuticals has a 1 year low of $20.14 and a 1 year high of $39.83. The stock’s 50-day moving average is $25.33 and its 200 day moving average is $25.85. The company has a market cap of $2.51 billion, a PE ratio of -4.76 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly 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 return on equity of 152.95% and a negative net margin of 163.32%. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.96) earnings per share. Analysts expect that Arrowhead Pharmaceuticals will post -4.31 EPS for the current fiscal year.

Insider Buying and Selling 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 sale, the insider now directly owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Avoro Capital Advisors LLC boosted its holdings 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 stake in Arrowhead Pharmaceuticals by 16.2% in the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after buying an additional 1,731,974 shares in the last quarter. Norges Bank bought a new position in Arrowhead Pharmaceuticals in the fourth quarter worth approximately $40,451,000. Goldman Sachs Group Inc. raised its stake in 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 buying an additional 613,067 shares in the last quarter. Finally, Capital International Investors raised its stake in Arrowhead Pharmaceuticals by 55.2% in the fourth quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock worth $39,093,000 after buying an additional 454,631 shares in the last quarter. 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.