Piper Sandler Reaffirms Overweight Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Piper Sandler reissued their overweight rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note released on Tuesday, Benzinga reports. Piper Sandler currently has a $62.00 price target on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada restated 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 reaffirmed an overweight rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. StockNews.com upgraded Arrowhead Pharmaceuticals to a sell rating in a research note on Thursday, August 1st. B. Riley restated a buy rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Finally, Chardan Capital reissued a buy rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals has an average rating of Moderate Buy and an average price target of $45.33.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR opened at $17.70 on Tuesday. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $39.83. The firm has a 50-day moving average price of $21.97 and a two-hundred day moving average price of $24.28. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -4.16 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 152.95%. During the same period in the previous year, the company earned ($0.96) EPS. The firm’s revenue for the quarter was down 100.0% on a year-over-year basis. As a group, sell-side analysts forecast that Arrowhead Pharmaceuticals will post -4.31 earnings per share for the current year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Avoro Capital Advisors LLC boosted its position in shares of Arrowhead Pharmaceuticals by 657.1% in the first quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock valued at $244,689,000 after acquiring an additional 7,425,555 shares during the period. Vanguard Group Inc. grew its position 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 valued at $354,756,000 after purchasing an additional 1,731,974 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Arrowhead Pharmaceuticals by 136.6% in the fourth 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. Squarepoint Ops LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the second quarter worth $9,976,000. Finally, Eventide Asset Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $9,587,000. 62.61% of the stock is currently owned by institutional investors.

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.