Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Buy Rating from B. Riley

B. Riley reiterated their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $55.00 price target on the biotechnology company’s stock. B. Riley also issued estimates for Arrowhead Pharmaceuticals’ Q4 2024 earnings at ($0.96) EPS, FY2024 earnings at ($4.48) EPS, FY2025 earnings at ($3.46) EPS, FY2026 earnings at ($2.34) EPS, FY2027 earnings at $1.77 EPS and FY2028 earnings at $2.61 EPS.

ARWR has been the subject of a number of other research reports. Chardan Capital reissued a buy rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. HC Wainwright reiterated a buy rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They set a neutral rating and a $31.00 target price on the stock. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a sell rating in a research report on Thursday, August 1st. Finally, Morgan Stanley reduced their price target on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an equal weight rating on the stock in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $44.25.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $22.66 on Monday. The firm has a market cap of $2.81 billion, a P/E ratio of -5.33 and a beta of 0.94. Arrowhead Pharmaceuticals has a 52 week low of $20.67 and a 52 week high of $39.83. The firm’s 50-day simple moving average is $26.15 and its 200 day simple moving average is $26.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 140.72%. Arrowhead Pharmaceuticals’s quarterly revenue was down 100.0% on a year-over-year basis. During the same period last year, the company posted ($0.96) earnings per share. As a group, equities analysts forecast that Arrowhead Pharmaceuticals will post -3.04 earnings per share for the current year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value of $237,480.32. Following the transaction, the insider now owns 127,107 shares in the company, valued at $3,213,264.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its holdings in shares of Arrowhead Pharmaceuticals by 42.5% during the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after buying an additional 354 shares in the last quarter. Neo Ivy Capital Management bought a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at about $41,000. Quest Partners LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $45,000. Headlands Technologies LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 7,696.8% during the first quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 2,386 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Arrowhead Pharmaceuticals by 22.9% in the fourth quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock valued at $73,000 after buying an additional 447 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.