Arrowhead Pharmaceuticals (NASDAQ:ARWR) Receives “Buy” Rating from HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report released on Friday, Benzinga reports. They currently have a $60.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 227.87% from the company’s previous close.

A number of other equities research analysts also recently commented on ARWR. Piper Sandler reaffirmed an “overweight” rating and issued a $62.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research note on Thursday, August 1st. B. Riley restated a “buy” rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Finally, Chardan Capital reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR traded up $0.60 during mid-day trading on Friday, reaching $18.30. The company’s stock had a trading volume of 609,568 shares, compared to its average volume of 1,219,010. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $39.83. The stock has a market cap of $2.28 billion, a PE ratio of -3.90 and a beta of 0.95. The company’s 50 day moving average is $21.97 and its 200 day moving average is $24.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). The firm’s revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.96) earnings per share. As a group, sell-side analysts anticipate that Arrowhead Pharmaceuticals will post -4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Eventide Asset Management LLC acquired a new stake in Arrowhead Pharmaceuticals during the fourth quarter worth about $9,587,000. Neo Ivy Capital Management bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at $41,000. Goldman Sachs Group Inc. lifted its position in Arrowhead Pharmaceuticals by 136.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock valued at $32,496,000 after acquiring an additional 613,067 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Arrowhead Pharmaceuticals by 63.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 95,000 shares of the biotechnology company’s stock worth $2,907,000 after buying an additional 37,000 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 1st quarter valued at about $1,151,000. 62.61% of the stock is owned by institutional investors and hedge funds.

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.