HC Wainwright Reiterates Buy Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

HC Wainwright reissued their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research report sent to investors on Friday, Benzinga reports. HC Wainwright currently has a $60.00 price target on the biotechnology company’s stock.

Several other equities analysts have also issued reports on ARWR. Cantor Fitzgerald reaffirmed an overweight rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Piper Sandler reaffirmed an overweight rating and issued a $62.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, October 8th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a sell rating in a research report on Thursday, August 1st. B. Riley restated a buy rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Finally, Chardan Capital reaffirmed a buy rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of Moderate Buy and a consensus price target of $45.33.

Arrowhead Pharmaceuticals Stock Up 4.2 %

Shares of NASDAQ:ARWR opened at $18.44 on Friday. The firm has a market cap of $2.29 billion, a P/E ratio of -4.34 and a beta of 0.95. Arrowhead Pharmaceuticals has a 12 month low of $17.05 and a 12 month high of $39.83. The company’s 50-day moving average price is $21.81 and its two-hundred day moving average price is $24.16.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly 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). During the same quarter last year, the company earned ($0.96) EPS. Arrowhead Pharmaceuticals’s revenue for the quarter was down 100.0% compared to the same quarter last year. As a group, equities analysts predict that Arrowhead Pharmaceuticals will post -4.31 earnings per share for the current fiscal year.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Arrowhead Pharmaceuticals by 16.2% in the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after acquiring an additional 1,731,974 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Arrowhead Pharmaceuticals by 136.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after purchasing an additional 613,067 shares in the last quarter. Avoro Capital Advisors LLC raised its holdings in Arrowhead Pharmaceuticals by 3.9% during the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after buying an additional 333,333 shares during the period. Eventide Asset Management LLC bought a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $9,587,000. Finally, American International Group Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 13.4% in the first quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock valued at $6,298,000 after buying an additional 26,009 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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.