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

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $45.33.

A number of research firms recently commented on ARWR. B. Riley reiterated a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Chardan Capital reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, October 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Friday, October 11th.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $19.49 on Monday. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -4.17 and a beta of 0.95. Arrowhead Pharmaceuticals has a 12 month low of $17.05 and a 12 month high of $39.83. The stock’s 50 day moving average price is $20.64 and its 200 day moving average price is $23.55.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.80). The business’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.96) earnings per share. On average, sell-side analysts expect that Arrowhead Pharmaceuticals will post -4.31 EPS for the current year.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ARWR. Avoro Capital Advisors LLC increased its stake in Arrowhead Pharmaceuticals by 657.1% in the 1st quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock valued at $244,689,000 after buying an additional 7,425,555 shares during the period. Vanguard Group Inc. boosted its position in Arrowhead Pharmaceuticals by 16.2% during the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after purchasing an additional 1,731,974 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Arrowhead Pharmaceuticals in the 2nd quarter worth about $9,976,000. Assenagon Asset Management S.A. increased its position in Arrowhead Pharmaceuticals by 232.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after purchasing an additional 204,933 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Arrowhead Pharmaceuticals during the 1st quarter worth about $5,834,000. 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.