Arrowhead Pharmaceuticals (NASDAQ:ARWR) Coverage Initiated at Morgan Stanley

Investment analysts at Morgan Stanley assumed coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Rating) in a research note issued on Friday, Marketbeat Ratings reports. The firm set an “equal weight” rating and a $41.00 price target on the biotechnology company’s stock. Morgan Stanley’s target price indicates a potential upside of 6.30% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. StockNews.com raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, May 23rd. Chardan Capital boosted their target price on Arrowhead Pharmaceuticals from $80.00 to $82.00 in a research report on Friday, August 5th. HC Wainwright reissued a “buy” rating and set a $110.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 14th. Finally, The Goldman Sachs Group upped their target price on shares of Arrowhead Pharmaceuticals from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.57.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock opened at $38.57 on Friday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.16. Arrowhead Pharmaceuticals has a 12 month low of $26.81 and a 12 month high of $84.83. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of -26.06 and a beta of 1.42. The stock has a 50-day moving average price of $42.35 and a 200 day moving average price of $40.53.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.17). Arrowhead Pharmaceuticals had a negative return on equity of 36.05% and a negative net margin of 61.58%. The business had revenue of $32.41 million for the quarter, compared to the consensus estimate of $52.61 million. During the same period last year, the firm earned ($0.29) earnings per share. The company’s quarterly revenue was down 29.4% on a year-over-year basis. Research analysts expect that Arrowhead Pharmaceuticals will post -1.08 EPS for the current year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. acquired a new position in Arrowhead Pharmaceuticals in the 2nd quarter worth $27,000. Advisors Asset Management Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 94.6% during the first quarter. Advisors Asset Management Inc. now owns 720 shares of the biotechnology company’s stock worth $33,000 after buying an additional 350 shares during the period. Nauset Wealth Management. LLC bought a new position in shares of Arrowhead Pharmaceuticals during the first quarter worth about $38,000. Captrust Financial Advisors raised its position in Arrowhead Pharmaceuticals by 22.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,201 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 220 shares during the last quarter. Finally, Herold Advisors Inc. bought a new stake in Arrowhead Pharmaceuticals in the 1st quarter valued at approximately $83,000. Institutional investors own 67.29% of the company’s stock.

About Arrowhead Pharmaceuticals

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Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes ARO-AAT, a RNA interference (RNAi) therapeutic candidate that is in Phase II clinical trial for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3, which is in phase 2b and one phase 3 clinical trial to treat hypertriglyceridemia; ARO-ANG3 that is in Phase 2b clinical trial to reduce production of angiopoietin-like protein 3; ARO-HSD, which is in Phase 1/2a clinical trial to treat liver diseases; ARO-ENaC, which is in a Phase 1/2a clinical trial to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; ARO-C3 for the treatment of complement-mediated disease that is in Phase 1/2a clinical trial; ARO-Lung2 for the treatment of chronic obstructive pulmonary disorder; ARO-DUX4 for the treatment of facioscapulohumeral muscular dystrophy; ARO-XDH to treat uncontrolled gout; ARO-COV for the treatment of COVID-19 and other pulmonary-borne pathogens; and ARO-HIF2, which is in phase 1b clinical trial to treat clear cell renal cell carcinoma.

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Analyst Recommendations for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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