Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Stock Has Consensus Price Target of $99.07

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $99.07.

Several research firms have recently weighed in on ARWR. Piper Sandler reissued an “overweight” rating and issued a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Stifel Nicolaus assumed coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price target on the stock. Citigroup began coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 8th. They set a “buy” rating and a $108.00 price target on the stock. The Goldman Sachs Group began coverage on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 24th. They issued a “neutral” rating and a $74.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, October 15th.

Arrowhead Pharmaceuticals Trading Up 0.1%

Shares of ARWR stock opened at $59.03 on Friday. The stock has a 50 day moving average of $71.48 and a 200 day moving average of $71.71. Arrowhead Pharmaceuticals has a twelve month low of $37.06 and a twelve month high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The company had revenue of $75.25 million for the quarter, compared to the consensus estimate of $44.17 million. During the same quarter in the previous year, the company posted ($1.26) EPS. The business’s revenue for the quarter was up 171.0% compared to the same quarter last year. On average, equities research analysts forecast that Arrowhead Pharmaceuticals will post -3.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Adeoye Y. Olukotun sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the transaction, the director directly owned 31,600 shares in the company, valued at approximately $2,747,936. This represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael S. Perry sold 11,600 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the transaction, the director directly owned 111,459 shares of the company’s stock, valued at $9,730,370.70. The trade was a 9.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARWR. BlackRock Inc. bought a new position in Arrowhead Pharmaceuticals in the 2nd quarter worth $1,208,838,000. Jupiter Topco LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $99,623,000. Renaissance Technologies LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the 1st quarter valued at about $64,988,000. Bank of New York Mellon Corp bought a new position in Arrowhead Pharmaceuticals in the second quarter worth about $70,061,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Arrowhead Pharmaceuticals in the second quarter worth about $50,990,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes using RNA interference (RNAi). The company’s proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi-based therapies to specific tissues and reduce the production of targeted proteins.

Arrowhead’s research and development programs address a range of conditions, including cardiometabolic, pulmonary, liver, and central nervous system diseases.