FY2023 Earnings Estimate for Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) Issued By B. Riley

Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) – Equities researchers at B. Riley boosted their FY2023 earnings estimates for Arrowhead Pharmaceuticals in a report released on Wednesday, November 13th. B. Riley analyst M. Mamtani now expects that the biotechnology company will earn $0.59 per share for the year, up from their prior forecast of $0.55. B. Riley currently has a “Buy” rating and a $59.00 target price on the stock.

Other analysts have also issued reports about the stock. ValuEngine lowered shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Robert W. Baird lowered shares of Arrowhead Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $39.00 price target on the stock. in a research note on Thursday, October 24th. Piper Jaffray Companies boosted their price target on shares of Arrowhead Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Sunday, October 20th. BidaskClub upgraded shares of Arrowhead Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Chardan Capital boosted their price target on shares of Arrowhead Pharmaceuticals from $32.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $44.20.

NASDAQ ARWR traded down $1.06 on Friday, hitting $47.44. The company had a trading volume of 2,366,600 shares, compared to its average volume of 1,573,775. The company has a market capitalization of $4.60 billion, a PE ratio of -72.98 and a beta of 1.68. The company’s fifty day moving average price is $36.20 and its 200-day moving average price is $29.27. Arrowhead Pharmaceuticals has a 12-month low of $10.41 and a 12-month high of $49.78.

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in shares of Arrowhead Pharmaceuticals by 3.9% during the second quarter. JPMorgan Chase & Co. now owns 315,152 shares of the biotechnology company’s stock worth $9,083,000 after buying an additional 11,907 shares during the period. Aperio Group LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth approximately $483,000. Comerica Bank purchased a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth approximately $2,527,000. Elkfork Partners LLC increased its stake in shares of Arrowhead Pharmaceuticals by 467.6% during the second quarter. Elkfork Partners LLC now owns 13,124 shares of the biotechnology company’s stock worth $348,000 after buying an additional 10,812 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Arrowhead Pharmaceuticals by 60.1% during the second quarter. Parametric Portfolio Associates LLC now owns 80,302 shares of the biotechnology company’s stock worth $2,128,000 after buying an additional 30,147 shares during the period. Hedge funds and other institutional investors own 72.33% of the company’s stock.

In related news, CFO Kenneth Allen Myszkowski sold 37,884 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $40.85, for a total transaction of $1,547,561.40. Following the sale, the chief financial officer now directly owns 351,420 shares in the company, valued at $14,355,507. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Richard Anzalone sold 66,645 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $28.20, for a total transaction of $1,879,389.00. Following the sale, the chief executive officer now owns 2,146,153 shares in the company, valued at $60,521,514.60. The disclosure for this sale can be found here. Insiders have sold 350,104 shares of company stock worth $10,783,025 over the last quarter. Insiders own 4.80% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.

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Earnings History and Estimates for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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