Arrowhead Pharmaceuticals (NASDAQ:ARWR) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Rating) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Other research analysts have also recently issued research reports about the stock. B. Riley lowered their price target on shares of Arrowhead Pharmaceuticals from $59.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of Arrowhead Pharmaceuticals in a report on Wednesday, November 30th. Morgan Stanley reduced their price objective on shares of Arrowhead Pharmaceuticals from $41.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 29th. Piper Sandler reduced their price objective on shares of Arrowhead Pharmaceuticals from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, February 7th. Finally, Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 10th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.10.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $24.30 on Thursday. The stock has a market capitalization of $2.63 billion, a P/E ratio of -16.63 and a beta of 1.05. The company has a 50 day moving average price of $32.76 and a 200 day moving average price of $33.63. Arrowhead Pharmaceuticals has a fifty-two week low of $23.09 and a fifty-two week high of $51.11.

Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The biotechnology company reported ($0.39) EPS for the quarter, missing the consensus estimate of $1.14 by ($1.53). Arrowhead Pharmaceuticals had a negative return on equity of 34.73% and a negative net margin of 54.31%. The firm had revenue of $62.55 million for the quarter, compared to analyst estimates of $162.52 million. During the same quarter last year, the firm earned ($0.60) EPS. The company’s revenue was up 127.9% on a year-over-year basis. On average, research analysts forecast that Arrowhead Pharmaceuticals will post -2.4 EPS for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, Director William D. Waddill sold 3,200 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $30.00, for a total value of $96,000.00. Following the completion of the sale, the director now owns 28,950 shares in the company, valued at approximately $868,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arrowhead Pharmaceuticals news, Director Douglas B. Given sold 875 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $32.62, for a total transaction of $28,542.50. Following the completion of the transaction, the director now owns 13,000 shares in the company, valued at approximately $424,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William D. Waddill sold 3,200 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $30.00, for a total transaction of $96,000.00. Following the transaction, the director now owns 28,950 shares of the company’s stock, valued at approximately $868,500. The disclosure for this sale can be found here. Insiders sold a total of 102,691 shares of company stock worth $3,864,750 in the last 90 days. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Large investors have recently bought and sold shares of the company. Belpointe Asset Management LLC purchased a new position in Arrowhead Pharmaceuticals during the 4th quarter worth $27,000. Advisors Asset Management Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 94.6% during the 1st quarter. Advisors Asset Management Inc. now owns 720 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 350 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth $27,000. B. Riley Wealth Management Inc. acquired a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth $1,859,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Arrowhead Pharmaceuticals by 105.9% during the 4th quarter. Quadrant Capital Group LLC now owns 982 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 505 shares during the period. Hedge funds and other institutional investors own 65.46% of the company’s stock.

About Arrowhead Pharmaceuticals

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Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the development of medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC.