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

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $50.80.

A number of equities research analysts recently commented on the company. Citigroup increased their price target on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Morgan Stanley raised their price objective on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, February 8th.

Arrowhead Pharmaceuticals Trading Up 1.3 %

ARWR opened at $24.44 on Monday. Arrowhead Pharmaceuticals has a 1-year low of $20.67 and a 1-year high of $42.48. The business has a 50 day moving average of $27.33 and a 200-day moving average of $28.75. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -8.79 and a beta of 0.78.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.46). The firm had revenue of $3.55 million during the quarter, compared to analyst estimates of $35.60 million. Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 90.77%. The business’s revenue for the quarter was down 94.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.39) earnings per share. Equities analysts predict that Arrowhead Pharmaceuticals will post -2.7 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total value of $1,407,600.00. Following the sale, the chief financial officer now directly owns 400,600 shares of the company’s stock, valued at $14,097,114. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the sale, the chief financial officer now directly owns 400,600 shares of the company’s stock, valued at $14,097,114. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hongbo Lu acquired 1,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was purchased at an average cost of $27.50 per share, with a total value of $27,500.00. Following the purchase, the director now directly owns 33,680 shares of the company’s stock, valued at $926,200. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Washington Trust Advisors Inc. acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth approximately $25,000. Fifth Third Bancorp grew its holdings in Arrowhead Pharmaceuticals by 112.0% during the third quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company’s stock worth $27,000 after buying an additional 522 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Arrowhead Pharmaceuticals during the 4th quarter worth $41,000. Quest Partners LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth $45,000. Finally, Friedenthal Financial purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $51,000. 62.61% of the stock is owned by institutional investors and hedge funds.

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.