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

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

A number of other analysts also recently weighed in on ARWR. Piper Sandler reiterated an “overweight” rating and set a $62.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Friday, October 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Finally, B. Riley reissued a “buy” rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

Arrowhead Pharmaceuticals Stock Up 1.6 %

NASDAQ ARWR opened at $21.18 on Thursday. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -4.98 and a beta of 0.95. Arrowhead Pharmaceuticals has a twelve month low of $17.05 and a twelve month high of $39.83. The stock has a fifty day simple moving average of $21.35 and a 200 day simple moving average of $23.93.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data 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). During the same quarter last year, the business posted ($0.96) earnings per share. Arrowhead Pharmaceuticals’s revenue was down 100.0% compared to the same quarter last year. Research analysts expect that Arrowhead Pharmaceuticals will post -4.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Arrowhead Pharmaceuticals by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after buying an additional 1,731,974 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in 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 buying an additional 613,067 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in Arrowhead Pharmaceuticals by 3.9% in the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after buying an additional 333,333 shares during the last quarter. American International Group Inc. increased its stake in Arrowhead Pharmaceuticals by 13.4% in the 1st quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock valued at $6,298,000 after buying an additional 26,009 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Arrowhead Pharmaceuticals in the 1st quarter valued at about $3,663,000. 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.