Arrowhead Pharmaceuticals (NASDAQ:ARWR) Rating Reiterated by Piper Sandler

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.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada reaffirmed an outperform rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. HC Wainwright reaffirmed a buy rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. B. Riley reissued a buy rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a sell rating in a report on Thursday, August 1st. Finally, Cantor Fitzgerald reaffirmed an overweight rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $45.33.

Arrowhead Pharmaceuticals Stock Performance

ARWR stock opened at $18.44 on Tuesday. The company’s 50 day moving average price is $21.81 and its 200 day moving average price is $24.22. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -4.34 and a beta of 0.95. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data 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’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.96) EPS. Equities analysts forecast that Arrowhead Pharmaceuticals will post -4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB raised its stake in Arrowhead Pharmaceuticals by 17.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 35,700 shares of the biotechnology company’s stock valued at $692,000 after acquiring an additional 5,200 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 275.8% in the third quarter. SG Americas Securities LLC now owns 35,206 shares of the biotechnology company’s stock valued at $682,000 after purchasing an additional 25,837 shares during the period. Quarry LP raised its stake in shares of Arrowhead Pharmaceuticals by 54.5% during the second quarter. Quarry LP now owns 8,500 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 3,000 shares during the last quarter. Creative Planning lifted its holdings in shares of Arrowhead Pharmaceuticals by 9.4% during the second quarter. Creative Planning now owns 28,276 shares of the biotechnology company’s stock worth $735,000 after purchasing an additional 2,420 shares during the period. Finally, Algert Global LLC grew its position in Arrowhead Pharmaceuticals by 104.3% in the 2nd quarter. Algert Global LLC now owns 40,466 shares of the biotechnology company’s stock valued at $1,052,000 after buying an additional 20,656 shares during 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.