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

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $43.71.

Several equities research analysts recently weighed in on ARWR shares. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. Chardan Capital reiterated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. Finally, Citigroup cut their price target on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th.

Arrowhead Pharmaceuticals Trading Up 7.6%

ARWR opened at $18.88 on Friday. Arrowhead Pharmaceuticals has a 52 week low of $9.57 and a 52 week high of $30.41. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $15.70 and a 200-day simple moving average of $16.39. The firm has a market cap of $2.61 billion, a P/E ratio of -13.49, a P/E/G ratio of 20.63 and a beta of 0.93.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $2.81. The firm had revenue of $542.71 million for the quarter, compared to analysts’ expectations of $116.27 million. During the same quarter last year, the business earned ($1.02) earnings per share. On average, equities analysts expect that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Richard Anzalone sold 50,800 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $11.49, for a total transaction of $583,692.00. Following the completion of the sale, the chief executive officer owned 3,921,255 shares in the company, valued at approximately $45,055,219.95. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Xponance Inc. boosted its stake in Arrowhead Pharmaceuticals by 4.5% during the 4th quarter. Xponance Inc. now owns 17,400 shares of the biotechnology company’s stock worth $327,000 after purchasing an additional 744 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 2.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 37,994 shares of the biotechnology company’s stock valued at $714,000 after buying an additional 803 shares during the last quarter. Oak Ridge Investments LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 2.5% during the first quarter. Oak Ridge Investments LLC now owns 33,734 shares of the biotechnology company’s stock worth $430,000 after buying an additional 823 shares during the period. Empowered Funds LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 6.9% during the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after buying an additional 979 shares during the last quarter. Finally, ADAR1 Capital Management LLC increased its position in Arrowhead Pharmaceuticals by 10.2% in the 4th quarter. ADAR1 Capital Management LLC now owns 12,900 shares of the biotechnology company’s stock valued at $243,000 after acquiring an additional 1,195 shares during the period. Hedge funds and other institutional investors 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.