Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Receives Average Rating of “Moderate Buy” from Analysts

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has received an average rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $45.33.

Several research firms have commented on ARWR. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. 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. Chardan Capital reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th.

Arrowhead Pharmaceuticals Trading Up 1.4 %

ARWR stock opened at $19.49 on Monday. The business’s fifty day moving average price is $20.64 and its 200 day moving average price is $23.55. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $39.83. The company has a market capitalization of $2.42 billion, a PE ratio of -4.17 and a beta of 0.93.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.80). The company’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period last year, the business earned ($0.96) EPS. Research analysts predict that Arrowhead Pharmaceuticals will post -4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Arrowhead Pharmaceuticals by 16.2% during the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after purchasing an additional 1,731,974 shares in the last quarter. Avoro Capital Advisors LLC increased its position in Arrowhead Pharmaceuticals by 3.9% during the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after buying an additional 333,333 shares during the period. Bank of New York Mellon Corp lifted its stake in Arrowhead Pharmaceuticals by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock valued at $28,201,000 after buying an additional 30,086 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 61.9% in the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after acquiring an additional 202,280 shares during the period. Finally, abrdn plc grew its position in shares of Arrowhead Pharmaceuticals by 61.3% during the third quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock worth $7,770,000 after acquiring an additional 152,476 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.