Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Rating Upgraded by StockNews.com

Arrowhead Pharmaceuticals (NASDAQ:ARWR) was upgraded by research analysts at StockNews.com to a “sell” rating in a report issued on Thursday.

A number of other analysts also recently issued reports on ARWR. B. Riley reissued a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Piper Sandler reissued an “overweight” rating and set a $62.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. Finally, HC Wainwright reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.33.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $21.18 on Thursday. The firm has a market capitalization of $2.63 billion, a P/E ratio of -4.98 and a beta of 0.95. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83. The company’s fifty day moving average price is $21.35 and its 200-day moving average price is $23.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released 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). The business’s revenue was down 100.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.96) EPS. Equities analysts anticipate that Arrowhead Pharmaceuticals will post -4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Buffington Mohr McNeal purchased a new position in shares of Arrowhead Pharmaceuticals in the third quarter worth about $581,000. Handelsbanken Fonder AB lifted its stake in shares of Arrowhead Pharmaceuticals by 17.0% in the third quarter. Handelsbanken Fonder AB now owns 35,700 shares of the biotechnology company’s stock worth $692,000 after buying an additional 5,200 shares in the last quarter. SG Americas Securities LLC increased its position in Arrowhead Pharmaceuticals by 275.8% during the third quarter. SG Americas Securities LLC now owns 35,206 shares of the biotechnology company’s stock worth $682,000 after purchasing an additional 25,837 shares during the last quarter. Quarry LP increased its position in Arrowhead Pharmaceuticals by 54.5% during the second quarter. Quarry LP now owns 8,500 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Creative Planning increased its position in Arrowhead Pharmaceuticals by 9.4% during the second quarter. Creative Planning now owns 28,276 shares of the biotechnology company’s stock worth $735,000 after purchasing an additional 2,420 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.