FY2024 EPS Estimates for Arrowhead Pharmaceuticals, Inc. Boosted by Analyst (NASDAQ:ARWR)

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRFree Report) – Equities research analysts at Cantor Fitzgerald upped their FY2024 earnings per share estimates for Arrowhead Pharmaceuticals in a report released on Wednesday, February 7th. Cantor Fitzgerald analyst P. Agrawal now anticipates that the biotechnology company will post earnings per share of ($2.71) for the year, up from their prior estimate of ($4.30). The consensus estimate for Arrowhead Pharmaceuticals’ current full-year earnings is ($2.87) per share.

A number of other brokerages also recently weighed in on ARWR. Citigroup raised their target price on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday. StockNews.com cut Arrowhead Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. Bank of America raised their price target on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.25.

Check Out Our Latest Analysis on ARWR

Arrowhead Pharmaceuticals Trading Up 5.5 %

NASDAQ ARWR opened at $32.56 on Friday. The firm’s 50 day simple moving average is $31.39 and its 200 day simple moving average is $29.04. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of -11.71 and a beta of 0.78. Arrowhead Pharmaceuticals has a 1 year low of $20.67 and a 1 year high of $42.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.46). The firm had revenue of $3.55 million for the quarter, compared to analyst estimates of $35.60 million. Arrowhead Pharmaceuticals had a negative return on equity of 90.77% and a negative net margin of 163.32%. The company’s quarterly revenue was down 94.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.39) earnings per share.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ARWR. Washington Trust Advisors Inc. acquired a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $25,000. Fifth Third Bancorp increased its stake in shares of Arrowhead Pharmaceuticals by 112.0% in the 3rd quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 522 shares in the last quarter. North Star Investment Management Corp. acquired a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at $29,000. KBC Group NV bought a new position in Arrowhead Pharmaceuticals during the second quarter worth $32,000. Finally, Point72 Asset Management L.P. acquired a new stake in Arrowhead Pharmaceuticals in the second quarter worth $32,000. Institutional investors and hedge funds own 65.98% of the company’s stock.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider Martin Javier San sold 19,700 shares of Arrowhead Pharmaceuticals stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $28.80, for a total transaction of $567,360.00. Following the transaction, the insider now directly owns 131,800 shares of the company’s stock, valued at approximately $3,795,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Martin Javier San sold 19,700 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $28.80, for a total value of $567,360.00. Following the transaction, the insider now owns 131,800 shares in the company, valued at approximately $3,795,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Richard Anzalone sold 57,499 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $32.35, for a total transaction of $1,860,092.65. Following the sale, the chief executive officer now owns 3,715,048 shares of the company’s stock, valued at $120,181,802.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,139 shares of company stock worth $6,471,839. Company insiders own 4.50% of the company’s stock.

About Arrowhead Pharmaceuticals

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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.

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Earnings History and Estimates for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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