Arrowhead Pharmaceuticals (NASDAQ:ARWR) Downgraded to "Hold" Rating by Wall Street Zen

Wall Street Zen cut shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR - Free Report) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

ARWR has been the topic of a number of other research reports. HC Wainwright reissued a "buy" rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Citigroup decreased their price objective on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Chardan Capital reissued a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $43.71.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR traded up $0.06 during midday trading on Friday, hitting $14.77. The stock had a trading volume of 1,202,740 shares, compared to its average volume of 1,600,354. The company has a market capitalization of $2.04 billion, a PE ratio of -10.53, a P/E/G ratio of 19.71 and a beta of 0.93. Arrowhead Pharmaceuticals has a 1 year low of $9.57 and a 1 year high of $29.86. The stock has a 50 day moving average price of $16.34 and a two-hundred day moving average price of $16.30. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.31.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $2.81. The company had revenue of $542.71 million for the quarter, compared to analysts' expectations of $116.27 million. During the same period in the prior year, the firm posted ($1.02) EPS. As a group, equities analysts predict that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Arrowhead Pharmaceuticals by 138.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company's stock valued at $60,962,000 after buying an additional 2,774,933 shares during the last quarter. Avoro Capital Advisors LLC raised its position in shares of Arrowhead Pharmaceuticals by 25.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company's stock valued at $208,889,000 after buying an additional 2,222,223 shares during the last quarter. Norges Bank acquired a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $38,622,000. Vanguard Group Inc. raised its position in shares of Arrowhead Pharmaceuticals by 8.4% in the first quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company's stock valued at $168,201,000 after buying an additional 1,018,273 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $11,821,000. 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.