Brokerages Set Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Price Target at $45.33

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have received an average recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $45.33.

Several research analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. B. Riley restated a “buy” rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $62.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th.

Arrowhead Pharmaceuticals Stock Performance

ARWR opened at $19.71 on Monday. The company has a market capitalization of $2.45 billion, a PE ratio of -4.64 and a beta of 0.95. The stock’s fifty day moving average is $20.85 and its 200-day moving average is $23.61. Arrowhead Pharmaceuticals has a one year low of $17.05 and a one year high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued 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). Arrowhead Pharmaceuticals’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.96) EPS. On average, equities research analysts forecast that Arrowhead Pharmaceuticals will post -4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp grew its stake in shares of Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 354 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Arrowhead Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 788 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Arrowhead Pharmaceuticals by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after purchasing an additional 821 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Arrowhead Pharmaceuticals by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 980 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 3.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 34,663 shares of the biotechnology company’s stock valued at $901,000 after purchasing an additional 1,250 shares during the last quarter. 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.