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

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $56.07.

Several research analysts have recently weighed in on ARWR shares. TD Cowen assumed coverage on Arrowhead Pharmaceuticals in a research note on Friday, July 21st. They set an “outperform” rating for the company. Piper Sandler boosted their price target on shares of Arrowhead Pharmaceuticals from $52.00 to $59.00 in a research report on Friday, June 2nd. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, August 8th. SVB Leerink cut shares of Arrowhead Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Friday, May 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $47.00 price target (down from $79.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, August 8th.

Insider Activity

In related news, CFO Kenneth Allen Myszkowski sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $36.20, for a total value of $543,000.00. Following the completion of the transaction, the chief financial officer now directly owns 381,704 shares in the company, valued at $13,817,684.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider James C. Hamilton sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $35.53, for a total value of $106,590.00. Following the completion of the sale, the insider now directly owns 188,484 shares in the company, valued at approximately $6,696,836.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth Allen Myszkowski sold 15,000 shares of the stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $36.20, for a total transaction of $543,000.00. Following the transaction, the chief financial officer now directly owns 381,704 shares in the company, valued at approximately $13,817,684.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,925 shares of company stock worth $964,732. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $27,000. North Star Investment Management Corp. purchased a new stake in shares of Arrowhead Pharmaceuticals during the second quarter valued at approximately $29,000. KBC Group NV bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at $32,000. Point72 Asset Management L.P. purchased a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at $32,000. Finally, Advisors Asset Management Inc. grew its holdings in Arrowhead Pharmaceuticals by 94.6% in the 1st quarter. Advisors Asset Management Inc. now owns 720 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. 65.98% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $27.15 on Wednesday. Arrowhead Pharmaceuticals has a one year low of $23.09 and a one year high of $42.48. The company has a market cap of $2.91 billion, a PE ratio of -15.88 and a beta of 0.96. The firm has a 50-day moving average of $32.86 and a 200-day moving average of $32.39.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.38). Arrowhead Pharmaceuticals had a negative net margin of 69.38% and a negative return on equity of 42.79%. The company had revenue of $15.83 million during the quarter, compared to analysts’ expectations of $45.42 million. During the same period in the previous year, the company posted ($0.68) earnings per share. The company’s quarterly revenue was down 51.2% compared to the same quarter last year. On average, equities research analysts expect that Arrowhead Pharmaceuticals will post -1.6 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 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 for the treatment of dyslipidemia; ARO-HSD, which is completed phase 1/2 clinical trial to treat liver diseases; ARO-ENaC2, which is in pre-clinical stage for the treatment of dyslipidemia cystic fibrosis; ARO-C3 that is in phase 1/2a clinical trial to reduce production of complement component 3; ARO-DUX4, which is in pre-clinical stage for the treatment of facioscapulohumeral muscular dystrophy; ARO-XDH that is in phase 1 clinical trial to treat uncontrolled gout; ARO-COV, which is in pre-clinical stage for the treatment of COVID-19; ARO-RAGE, which is in phase 1/2a clinical trial to treat muco-obstructive or inflammatory pulmonary conditions; and ARO-MMP7 that is in phase 1/2a clinical trial for treatment of idiopathic pulmonary fibrosis.