Brokerages Set Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) PT at $41.44

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $41.44.

Several research firms have recently commented on ARWR. Chardan Capital reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. B. Riley reiterated a “buy” rating and issued a $38.00 target price (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th.

Arrowhead Pharmaceuticals Stock Down 7.8 %

ARWR stock opened at $12.74 on Thursday. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. The firm has a 50-day moving average of $17.99 and a two-hundred day moving average of $19.55. Arrowhead Pharmaceuticals has a 12 month low of $12.14 and a 12 month high of $30.41. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -2.46 and a beta of 0.92.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.97). As a group, analysts forecast that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 27,167 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $19.83, for a total transaction of $538,721.61. Following the sale, the chief financial officer now directly owns 473,433 shares in the company, valued at $9,388,176.39. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Richard Anzalone sold 11,520 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total transaction of $219,456.00. Following the completion of the transaction, the chief executive officer now directly owns 3,764,252 shares of the company’s stock, valued at approximately $71,709,000.60. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,317 shares of company stock valued at $5,049,735. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Avoro Capital Advisors LLC lifted its stake in Arrowhead Pharmaceuticals by 25.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock worth $208,889,000 after acquiring an additional 2,222,223 shares during the last quarter. State Street Corp lifted its position in shares of Arrowhead Pharmaceuticals by 8.8% during the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after purchasing an additional 516,569 shares during the last quarter. Slate Path Capital LP grew its stake in shares of Arrowhead Pharmaceuticals by 7.1% during the fourth quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company’s stock worth $98,362,000 after purchasing an additional 347,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in Arrowhead Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after buying an additional 26,171 shares during the last quarter. Finally, Norges Bank acquired a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at $38,622,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.