Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Buy Rating from HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $80.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 311.31% from the company’s previous close.

A number of other research firms also recently weighed in on ARWR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Citigroup lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Piper Sandler cut their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $19.45 on Friday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The company has a 50-day moving average of $21.26 and a 200-day moving average of $23.05. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $39.83. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -3.87 and a beta of 0.91.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 26,712 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.24, for a total transaction of $567,362.88. Following the completion of the sale, the chief executive officer now directly owns 3,688,335 shares of the company’s stock, valued at approximately $78,340,235.40. The trade was a 0.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William D. Waddill sold 3,748 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $21.90, for a total transaction of $82,081.20. Following the completion of the transaction, the director now directly owns 44,125 shares in the company, valued at $966,337.50. This trade represents a 7.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently bought and sold shares of ARWR. State Street Corp raised its position in shares of Arrowhead Pharmaceuticals by 8.8% during the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after acquiring an additional 516,569 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth $9,976,000. Avoro Capital Advisors LLC increased its holdings in Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after purchasing an additional 333,333 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Arrowhead Pharmaceuticals by 232.5% in the third quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock valued at $5,677,000 after buying an additional 204,933 shares during the period. Finally, Millennium Management LLC boosted its holdings in Arrowhead Pharmaceuticals by 61.9% during the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after buying an additional 202,280 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.