Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Stock Has Consensus Price Target of $99.07

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has received an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $99.07.

A number of equities research analysts have recently commented on the company. Citigroup initiated coverage on Arrowhead Pharmaceuticals in a research report on Tuesday, September 8th. They set a “buy” rating and a $108.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. Morgan Stanley boosted their price objective on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Chardan Capital reiterated a “buy” rating and issued a $115.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. Finally, B. Riley Financial increased their target price on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $60.49 on Friday. The stock has a market cap of $8.52 billion, a P/E ratio of -26.88 and a beta of 1.29. Arrowhead Pharmaceuticals has a 12 month low of $37.06 and a 12 month high of $95.49. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. The company has a fifty day simple moving average of $70.34 and a 200 day simple moving average of $71.66.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%. The business had revenue of $75.25 million for the quarter, compared to the consensus estimate of $44.17 million. During the same quarter in the prior year, the firm posted ($1.26) earnings per share. The business’s revenue was up 171.0% on a year-over-year basis. On average, research analysts expect that Arrowhead Pharmaceuticals will post -3.62 EPS for the current year.

Insider Buying and Selling

In other news, Director Adeoye Olukotun sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the transaction, the director owned 31,600 shares in the company, valued at $2,747,936. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Perry sold 11,600 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the sale, the director directly owned 111,459 shares of the company’s stock, valued at $9,730,370.70. This represents a 9.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals in the second quarter valued at approximately $1,208,838,000. Jupiter Topco LLC acquired a new position in Arrowhead Pharmaceuticals during the second quarter worth $99,623,000. Renaissance Technologies LLC acquired a new position in Arrowhead Pharmaceuticals during the first quarter worth $64,988,000. Bank of New York Mellon Corp acquired a new position in Arrowhead Pharmaceuticals during the second quarter worth $70,061,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Arrowhead Pharmaceuticals during the second quarter worth $50,990,000. 62.61% of the stock is owned by institutional investors and hedge funds.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes using RNA interference (RNAi). The company’s proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi-based therapies to specific tissues and reduce the production of targeted proteins.

Arrowhead’s research and development programs address a range of conditions, including cardiometabolic, pulmonary, liver, and central nervous system diseases.