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

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has received a consensus rating of “Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $43.1429.

Several brokerages have issued reports on ARWR. B. Riley upgraded shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 11th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. TD Cowen upgraded shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, July 28th. Chardan Capital restated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. Finally, Citigroup lowered their price objective on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 9,389 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $20.00, for a total value of $187,780.00. Following the completion of the sale, the insider directly owned 262,122 shares in the company, valued at approximately $5,242,440. The trade was a 3.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in Arrowhead Pharmaceuticals by 43.1% during the 4th quarter. Wells Fargo & Company MN now owns 62,886 shares of the biotechnology company’s stock valued at $1,182,000 after buying an additional 18,933 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at $651,000. Barclays PLC raised its holdings in Arrowhead Pharmaceuticals by 13.0% during the 4th quarter. Barclays PLC now owns 312,560 shares of the biotechnology company’s stock valued at $5,876,000 after buying an additional 35,950 shares during the last quarter. Marshall Wace LLP bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at $1,629,000. Finally, MetLife Investment Management LLC raised its holdings in Arrowhead Pharmaceuticals by 7.6% during the 4th quarter. MetLife Investment Management LLC now owns 141,011 shares of the biotechnology company’s stock valued at $2,651,000 after buying an additional 9,982 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Trading Up 2.8%

Shares of Arrowhead Pharmaceuticals stock opened at $21.33 on Friday. Arrowhead Pharmaceuticals has a 1 year low of $9.57 and a 1 year high of $27.34. The firm has a market cap of $2.95 billion, a PE ratio of -16.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87. The company has a 50 day simple moving average of $17.10 and a two-hundred day simple moving average of $15.93.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The business had revenue of $27.77 million for the quarter, compared to analyst estimates of $29.01 million. During the same period in the previous year, the firm posted ($1.38) EPS. Analysts expect 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.