Analysts Set Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) PT at $53.45

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $53.45.

A number of analysts have recently weighed in on the company. Citigroup upped their target price on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 7th. HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, February 8th. Bank of America upped their target price on Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Finally, Morgan Stanley upped their target price on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $22.53 on Thursday. The business has a fifty day simple moving average of $29.06 and a 200 day simple moving average of $28.95. The company has a market capitalization of $2.79 billion, a PE ratio of -8.10 and a beta of 0.71. Arrowhead Pharmaceuticals has a 1 year low of $20.67 and a 1 year high of $42.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.46). The firm had revenue of $3.55 million during the quarter, compared to the consensus estimate 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 last year, the firm earned ($0.39) earnings per share. Equities analysts anticipate that Arrowhead Pharmaceuticals will post -2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 57,499 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $32.35, for a total value of $1,860,092.65. Following the transaction, the chief executive officer now owns 3,715,048 shares in the company, valued at $120,181,802.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 400,600 shares of the company’s stock, valued at $14,097,114. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher Richard Anzalone sold 57,499 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $32.35, for a total value of $1,860,092.65. Following the completion of the transaction, the chief executive officer now directly owns 3,715,048 shares in the company, valued at approximately $120,181,802.80. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Arrowhead Pharmaceuticals by 0.8% in the second quarter. BlackRock Inc. now owns 12,811,158 shares of the biotechnology company’s stock worth $456,846,000 after purchasing an additional 100,357 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Arrowhead Pharmaceuticals by 0.8% in the third quarter. Vanguard Group Inc. now owns 10,145,990 shares of the biotechnology company’s stock valued at $335,325,000 after buying an additional 76,653 shares during the period. State Street Corp raised its stake in shares of Arrowhead Pharmaceuticals by 19.2% in the second quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company’s stock valued at $196,568,000 after buying an additional 900,791 shares during the period. FMR LLC raised its stake in shares of Arrowhead Pharmaceuticals by 58.2% in the third quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock valued at $115,780,000 after buying an additional 1,584,425 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Arrowhead Pharmaceuticals by 3.2% in the first quarter. JPMorgan Chase & Co. now owns 2,909,965 shares of the biotechnology company’s stock valued at $73,913,000 after buying an additional 89,143 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.