Arrowhead Pharmaceuticals (NASDAQ:ARWR) Upgraded at StockNews.com

Arrowhead Pharmaceuticals (NASDAQ:ARWR) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a research report issued on Thursday.

Other analysts have also issued reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Friday, October 11th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Chardan Capital reiterated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. Finally, B. Riley restated a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock traded down $0.26 during mid-day trading on Thursday, reaching $20.84. The company had a trading volume of 1,412,236 shares, compared to its average volume of 1,221,651. The stock’s 50-day simple moving average is $21.40 and its 200-day simple moving average is $23.99. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $39.83. The company has a market capitalization of $2.59 billion, a P/E ratio of -4.90 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.80). The firm’s revenue was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.96) earnings per share. On average, equities analysts forecast that Arrowhead Pharmaceuticals will post -4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after buying an additional 1,731,974 shares during the last quarter. Avoro Capital Advisors LLC grew its position in Arrowhead Pharmaceuticals by 3.9% during 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 period. Bank of New York Mellon Corp increased its stake in Arrowhead Pharmaceuticals by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after acquiring an additional 30,086 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 136.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after purchasing an additional 613,067 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 61.9% in the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after purchasing an additional 202,280 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.