Arrowhead Pharmaceuticals (NASDAQ:ARWR) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report released on Monday, Benzinga reports. Cantor Fitzgerald also issued estimates for Arrowhead Pharmaceuticals’ FY2024 earnings at ($4.78) EPS.

A number of other research firms have also recently commented on ARWR. Chardan Capital restated a buy rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They set a neutral rating and a $31.00 price target on the stock. StockNews.com raised Arrowhead Pharmaceuticals to a sell rating in a research report on Thursday, August 1st. HC Wainwright reaffirmed a buy rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 3rd. Finally, Morgan Stanley cut their price objective on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an equal weight rating on the stock in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $44.25.

Arrowhead Pharmaceuticals Stock Down 2.5 %

NASDAQ:ARWR opened at $20.94 on Monday. The stock’s fifty day moving average is $25.43 and its two-hundred day moving average is $25.89. Arrowhead Pharmaceuticals has a 52 week low of $20.63 and a 52 week high of $39.83. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -4.93 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. During the same period last year, the firm earned ($0.96) EPS. Arrowhead Pharmaceuticals’s quarterly revenue was down 100.0% compared to the same quarter last year. On average, sell-side analysts expect that Arrowhead Pharmaceuticals will post -4.31 EPS for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, insider Tracie Oliver sold 9,394 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value of $237,480.32. Following the transaction, the insider now owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Arrowhead Pharmaceuticals by 16.2% in the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after buying an additional 1,731,974 shares during the last quarter. Avoro Capital Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 3.9% during the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after purchasing an additional 333,333 shares during the last quarter. Norges Bank purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $40,451,000. Capital International Investors grew its holdings in shares of Arrowhead Pharmaceuticals by 55.2% during the fourth quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock worth $39,093,000 after purchasing an additional 454,631 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Arrowhead Pharmaceuticals by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after purchasing an additional 30,086 shares during the last quarter. 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.