Analysts Set Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Target Price at $50.80

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $50.80.

Several equities research analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of 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 lifted their target price on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, February 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th.

Arrowhead Pharmaceuticals Stock Up 0.9 %

Shares of NASDAQ:ARWR opened at $25.22 on Monday. The company has a 50 day moving average of $26.93 and a two-hundred day moving average of $28.72. Arrowhead Pharmaceuticals has a 52-week low of $20.67 and a 52-week high of $41.28. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -9.07 and a beta of 0.78.

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

Insider Activity

In related news, Director Victoria Vakiener sold 1,799 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $41,934.69. Following the sale, the director now directly owns 30,205 shares in the company, valued at approximately $704,078.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Arrowhead Pharmaceuticals news, Director Victoria Vakiener sold 1,799 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $41,934.69. Following the transaction, the director now owns 30,205 shares of the company’s stock, valued at approximately $704,078.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kenneth Allen Myszkowski sold 40,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 400,600 shares of the company’s stock, valued at $14,097,114. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARWR. FMR LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 58.2% during the third quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock worth $115,780,000 after purchasing an additional 1,584,425 shares during the period. Invesco Ltd. grew its stake in Arrowhead Pharmaceuticals by 9.6% in the 3rd quarter. Invesco Ltd. now owns 2,443,038 shares of the biotechnology company’s stock valued at $65,644,000 after buying an additional 214,618 shares during the last quarter. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $40,451,000. Capital International Investors grew its position in Arrowhead Pharmaceuticals by 55.2% in the 4th quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock worth $39,093,000 after purchasing an additional 454,631 shares during the last quarter. Finally, Avoro Capital Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 100.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,130,000 shares of the biotechnology company’s stock worth $34,578,000 after purchasing an additional 565,000 shares in the last quarter. Institutional investors and hedge funds 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.