Royal Bank Of Canada Has Lowered Expectations for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Key Points

• Royal Bank of Canada has lowered its price target for Arrowhead Pharmaceuticals from $40.00 to $38.00, while maintaining an "outperform" rating, suggesting a potential upside of 135.02% from the previous close.
• Arrowhead Pharmaceuticals reported an earnings per share (EPS) of ($1.26) for the last quarter, missing analysts' expectations and generating $27.77 million in revenue.
• The stock has received mixed ratings from analysts, with three holding, six buying, and one strongly buying the stock, resulting in a consensus rating of "Moderate Buy" and an average price target of $43.14.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) had its price objective dropped by stock analysts at Royal Bank Of Canada from $40.00 to $38.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the biotechnology company's stock. Royal Bank Of Canada's price objective would indicate a potential upside of 135.02% from the company's previous close.

Several other equities analysts have also commented on ARWR. Chardan Capital reaffirmed a "buy" rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. Wall Street Zen lowered Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Citigroup decreased their price target on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. TD Cowen raised Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 28th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.14.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock traded up $0.11 on Friday, reaching $16.17. 1,423,936 shares of the stock were exchanged, compared to its average volume of 1,881,688. The business has a 50 day moving average price of $16.47 and a two-hundred day moving average price of $16.02. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -11.51, a PEG ratio of 23.54 and a beta of 0.94. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.31. Arrowhead Pharmaceuticals has a twelve month low of $9.57 and a twelve month high of $27.34.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.32). The business had revenue of $27.77 million during the quarter, compared to the consensus estimate of $29.01 million. During the same quarter in the prior year, the company earned ($1.38) EPS. Analysts anticipate that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 297.6% in the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 1,628 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at $49,000. Nisa Investment Advisors LLC grew its position in shares of Arrowhead Pharmaceuticals by 75.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 1,308 shares during the period. CWM LLC grew its position in shares of Arrowhead Pharmaceuticals by 134.3% in the first quarter. CWM LLC now owns 4,401 shares of the biotechnology company's stock valued at $56,000 after purchasing an additional 2,523 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Arrowhead Pharmaceuticals by 29.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,335 shares of the biotechnology company's stock valued at $84,000 after purchasing an additional 1,214 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

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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