Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Arrowhead Pharmaceuticals has received a consensus recommendation of "Moderate Buy" from nine ratings firms, with a target price averaging $43.14.
• Insider trading revealed that James C. Hamilton sold 20,000 shares at an average price of $35.00, decreasing his ownership of the stock by 8.62%.
• Institutional investors significantly increased their holdings in Arrowhead, with Voya Investment Management increasing its position by 158.2% in the third quarter.

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $43.1429.

ARWR has been the subject of a number of analyst reports. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Chardan Capital reissued a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 11th. B. Riley raised shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research report on Monday, August 11th. Finally, Wall Street Zen lowered shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, July 18th.

Insider Buying and Selling

In related news, insider James C. Hamilton sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $35.00, for a total transaction of $700,000.00. Following the completion of the transaction, the insider owned 212,122 shares of the company's stock, valued at approximately $7,424,270. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 60,000 shares of company stock worth $1,725,000 over the last ninety days. Corporate insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC increased its position in Arrowhead Pharmaceuticals by 158.2% during the third quarter. Voya Investment Management LLC now owns 137,516 shares of the biotechnology company's stock worth $4,743,000 after purchasing an additional 84,252 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Arrowhead Pharmaceuticals by 1,388.6% during the third quarter. Assenagon Asset Management S.A. now owns 380,625 shares of the biotechnology company's stock worth $13,128,000 after purchasing an additional 355,056 shares during the last quarter. GAMMA Investing LLC increased its position in Arrowhead Pharmaceuticals by 64.4% during the third quarter. GAMMA Investing LLC now owns 2,626 shares of the biotechnology company's stock worth $91,000 after purchasing an additional 1,029 shares during the last quarter. Corient Private Wealth LLC acquired a new position in Arrowhead Pharmaceuticals during the second quarter worth approximately $269,000. Finally, Texas Permanent School Fund Corp acquired a new position in Arrowhead Pharmaceuticals during the second quarter worth approximately $302,000. Institutional investors and hedge funds own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $35.41 on Monday. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.39. The stock has a market cap of $4.90 billion, a P/E ratio of -27.66 and a beta of 1.13. The company has a 50-day moving average of $26.59 and a two-hundred day moving average of $18.98. Arrowhead Pharmaceuticals has a 12-month low of $9.57 and a 12-month high of $39.42.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.32). The firm had revenue of $27.77 million for the quarter, compared to analyst estimates of $29.01 million. During the same period in the previous year, the company posted ($1.38) earnings per share. As a group, research analysts predict that Arrowhead Pharmaceuticals will post -2.42 EPS for the current fiscal year.

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.

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