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

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $43.33.

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein dropped their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, January 23rd. Piper Sandler dropped their target price on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday.

Arrowhead Pharmaceuticals Stock Down 5.2 %

Shares of NASDAQ ARWR opened at $18.89 on Wednesday. The stock has a fifty day moving average price of $20.23 and a 200 day moving average price of $21.25. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $36.72. The company has a market cap of $2.36 billion, a P/E ratio of -3.76 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). Research analysts anticipate that Arrowhead Pharmaceuticals will post -3.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 3,748 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the transaction, the director now directly owns 44,125 shares in the company, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Richard Anzalone sold 26,712 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.24, for a total transaction of $567,362.88. Following the completion of the transaction, the chief executive officer now directly owns 3,688,335 shares of the company’s stock, valued at $78,340,235.40. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,432 shares of company stock valued at $2,957,986 in the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. R Squared Ltd bought a new position in Arrowhead Pharmaceuticals during the 4th quarter worth $38,000. Values First Advisors Inc. acquired a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at $52,000. Van ECK Associates Corp grew its position in shares of Arrowhead Pharmaceuticals by 72.3% during the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 1,250 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arrowhead Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 788 shares during the period. Finally, KBC Group NV lifted its position in Arrowhead Pharmaceuticals by 45.9% in the 4th quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 1,644 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.