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

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $43.71.

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

Insider Transactions at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 50,800 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $11.49, for a total transaction of $583,692.00. Following the transaction, the chief executive officer now owns 3,921,255 shares in the company, valued at approximately $45,055,219.95. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in ARWR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Arrowhead Pharmaceuticals by 138.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company’s stock valued at $60,962,000 after purchasing an additional 2,774,933 shares during the period. Avoro Capital Advisors LLC raised its position in Arrowhead Pharmaceuticals by 25.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock valued at $208,889,000 after purchasing an additional 2,222,223 shares during the period. Norges Bank purchased a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at $38,622,000. Vanguard Group Inc. raised its position in Arrowhead Pharmaceuticals by 8.4% in the first quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company’s stock valued at $168,201,000 after purchasing an additional 1,018,273 shares during the period. Finally, Farallon Capital Management LLC purchased a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at $11,821,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Down 3.0%

Shares of ARWR opened at $15.74 on Tuesday. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals has a 12 month low of $9.57 and a 12 month high of $30.41. The stock’s 50 day moving average is $14.25 and its two-hundred day moving average is $17.19. The firm has a market cap of $2.17 billion, a P/E ratio of -3.04 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, beating the consensus estimate of ($0.06) by $2.81. The business had revenue of $542.71 million during the quarter, compared to analyst estimates of $116.27 million. During the same period in the previous year, the business posted ($1.02) earnings per share. Analysts predict that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.

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.