Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Get Rating) – Equities research analysts at HC Wainwright decreased their Q1 2023 earnings estimates for shares of Arrowhead Pharmaceuticals in a research note issued on Monday, January 23rd. HC Wainwright analyst P. Trucchio now expects that the biotechnology company will earn $1.34 per share for the quarter, down from their prior estimate of $1.75. HC Wainwright has a "Buy" rating and a $90.00 price target on the stock. The consensus estimate for Arrowhead Pharmaceuticals' current full-year earnings is ($0.87) per share. HC Wainwright also issued estimates for Arrowhead Pharmaceuticals' Q2 2023 earnings at ($1.09) EPS, Q3 2023 earnings at ($1.12) EPS, Q4 2023 earnings at ($1.10) EPS, FY2023 earnings at ($2.01) EPS, FY2024 earnings at ($3.12) EPS, FY2025 earnings at ($2.33) EPS, FY2026 earnings at ($2.08) EPS and FY2027 earnings at ($0.59) EPS.
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A number of other research analysts have also issued reports on the stock. B. Riley reduced their target price on shares of Arrowhead Pharmaceuticals from $65.00 to $59.00 and set a "buy" rating on the stock in a report on Wednesday, November 30th. Jefferies Financial Group reduced their target price on shares of Arrowhead Pharmaceuticals from $92.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, November 29th. SVB Leerink reduced their target price on shares of Arrowhead Pharmaceuticals from $33.00 to $31.00 and set a "market perform" rating on the stock in a report on Tuesday, November 29th. Piper Sandler cut their price objective on shares of Arrowhead Pharmaceuticals from $64.00 to $55.00 in a report on Monday, January 9th. Finally, Morgan Stanley cut their price objective on shares of Arrowhead Pharmaceuticals from $41.00 to $37.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 29th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.22.
Arrowhead Pharmaceuticals Trading Down 2.8 %
NASDAQ:ARWR opened at $32.97 on Wednesday. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -19.62 and a beta of 1.26. The company's 50-day moving average is $33.92 and its two-hundred day moving average is $36.49. Arrowhead Pharmaceuticals has a 12-month low of $26.81 and a 12-month high of $56.25.
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Rating) last issued its quarterly earnings data on Monday, November 28th. The biotechnology company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.24). The business had revenue of $31.58 million during the quarter, compared to analyst estimates of $107.60 million. Arrowhead Pharmaceuticals had a negative net margin of 71.01% and a negative return on equity of 40.23%.
Insider Buying and Selling at Arrowhead Pharmaceuticals
In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,200 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $30.00, for a total value of $96,000.00. Following the completion of the sale, the director now owns 28,950 shares of the company's stock, valued at $868,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William D. Waddill sold 3,200 shares of the firm's stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $30.00, for a total transaction of $96,000.00. Following the completion of the sale, the director now owns 28,950 shares of the company's stock, valued at $868,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martin Javier San sold 19,500 shares of the firm's stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $29.99, for a total transaction of $584,805.00. Following the sale, the insider now directly owns 91,500 shares of the company's stock, valued at approximately $2,744,085. The disclosure for this sale can be found here. Insiders sold 109,966 shares of company stock valued at $4,050,435 over the last 90 days. 3.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Arrowhead Pharmaceuticals
A number of hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its stake in Arrowhead Pharmaceuticals by 22.4% in the second quarter. Captrust Financial Advisors now owns 1,201 shares of the biotechnology company's stock valued at $42,000 after buying an additional 220 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Arrowhead Pharmaceuticals by 1.2% during the second quarter. Arizona State Retirement System now owns 27,151 shares of the biotechnology company's stock valued at $956,000 after purchasing an additional 309 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Arrowhead Pharmaceuticals by 2.7% during the third quarter. Private Advisor Group LLC now owns 11,795 shares of the biotechnology company's stock valued at $390,000 after purchasing an additional 313 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 3.5% during the second quarter. O Shaughnessy Asset Management LLC now owns 9,704 shares of the biotechnology company's stock valued at $342,000 after purchasing an additional 326 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Arrowhead Pharmaceuticals by 2.2% during the second quarter. State of Alaska Department of Revenue now owns 15,173 shares of the biotechnology company's stock valued at $534,000 after purchasing an additional 330 shares in the last quarter. Institutional investors and hedge funds own 65.46% of the company's stock.
About Arrowhead Pharmaceuticals
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Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the development of medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC.
Further Reading
- Get a free copy of the StockNews.com research report on Arrowhead Pharmaceuticals (ARWR)
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