Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Stock Has Consensus Target Price of $98.31

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $98.31.

Several research analysts have recently commented on ARWR shares. Leerink Partners boosted their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, June 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 31st. The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a research report on Thursday, September 24th. They set a “neutral” rating and a $74.00 target price for the company. Morgan Stanley upped their price objective on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd.

Insider Activity at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 2,000 shares of the firm’s stock in a transaction 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 directly owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael S. Perry sold 11,600 shares of the business’s 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 transaction, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.60% of the stock is owned by insiders.

Institutional Trading of Arrowhead Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ARWR. BlackRock Inc. acquired a new stake in Arrowhead Pharmaceuticals in the 2nd quarter valued at about $1,208,838,000. Norges Bank bought a new position in Arrowhead Pharmaceuticals during the fourth quarter worth about $113,159,000. Fred Alger Management LLC increased its position in Arrowhead Pharmaceuticals by 497.4% during the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after buying an additional 1,526,164 shares during the last quarter. Jupiter Topco LLC acquired a new position in Arrowhead Pharmaceuticals during the second quarter worth approximately $99,623,000. Finally, Renaissance Technologies LLC bought a new stake in Arrowhead Pharmaceuticals in the first quarter valued at approximately $64,988,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR opened at $65.45 on Monday. The company’s fifty day moving average is $81.70 and its two-hundred day moving average is $75.71. Arrowhead Pharmaceuticals has a 52-week low of $34.38 and a 52-week high of $95.49. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of -29.09 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released 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 net margin of 47.79% and a negative return on equity of 60.06%. The company had revenue of $75.25 million during the quarter, compared to the consensus estimate of $44.17 million. During the same quarter in the previous year, the business posted ($1.26) EPS. The firm’s quarterly revenue was up 171.0% on a year-over-year basis. Equities research analysts forecast that Arrowhead Pharmaceuticals will post -3.62 EPS for the current year.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes. Its research is based primarily on RNA interference (RNAi), a biological process that reduces the production of specific proteins by targeting messenger RNA before it can be used to make those proteins.

The company uses its proprietary Targeted RNAi Molecule (TRiM) platform to design and deliver RNAi therapeutics to selected tissues, including the liver and lungs.