Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $42.70.

ARWR has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Wednesday, November 27th. Sanford C. Bernstein reduced their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. Finally, Citigroup dropped their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ARWR. State Street Corp boosted its holdings in Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after purchasing an additional 516,569 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Arrowhead Pharmaceuticals during the 2nd quarter worth $9,976,000. Avoro Capital Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after acquiring an additional 333,333 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Arrowhead Pharmaceuticals by 232.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after buying an additional 204,933 shares during the period. Finally, Millennium Management LLC raised its position in shares of Arrowhead Pharmaceuticals by 61.9% during the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after acquiring an additional 202,280 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR opened at $22.37 on Tuesday. The firm has a fifty day moving average price of $21.06 and a 200 day moving average price of $23.14. The stock has a market cap of $2.78 billion, a PE ratio of -4.46 and a beta of 0.91. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83.

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.