Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Given Consensus Rating of “Moderate Buy” by Brokerages

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

Several brokerages recently commented on ARWR. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, June 11th. The Goldman Sachs Group assumed coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price target for the company. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, June 3rd. Morgan Stanley reduced their price target on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, May 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Thursday, June 20th.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $27.24 on Tuesday. The firm has a market cap of $3.38 billion, a PE ratio of -6.41 and a beta of 0.94. The business’s 50 day simple moving average is $24.15 and its 200 day simple moving average is $28.34. Arrowhead Pharmaceuticals has a 52-week low of $20.67 and a 52-week high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share (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 quarter last year, the company earned $0.45 earnings per share. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. As a group, equities research analysts predict that Arrowhead Pharmaceuticals will post -3.05 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ARWR. Washington Trust Advisors Inc. bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $25,000. Neo Ivy Capital Management bought a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $41,000. Quest Partners LLC acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $45,000. Friedenthal Financial bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $51,000. Finally, Van ECK Associates Corp grew its position in Arrowhead Pharmaceuticals by 22.9% in the fourth quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock valued at $73,000 after acquiring an additional 447 shares during the last quarter. Institutional investors and hedge funds 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.