Arrowhead Pharmaceuticals (NASDAQ:ARWR) Receives “Buy” Rating from HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $80.00 price target on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 299.00% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Piper Sandler cut their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Sanford C. Bernstein dropped their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Finally, Citigroup cut their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Arrowhead Pharmaceuticals Trading Up 2.8 %

Shares of ARWR traded up $0.55 during trading hours on Friday, reaching $20.05. The stock had a trading volume of 441,670 shares, compared to its average volume of 1,268,891. The company has a market cap of $2.49 billion, a P/E ratio of -3.99 and a beta of 0.91. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $39.83. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The firm has a 50-day moving average of $21.23 and a 200 day moving average of $23.09.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was 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 owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. The trade was a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its stake in shares of Arrowhead Pharmaceuticals by 42.5% during the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after buying an additional 354 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter valued at $52,000. Meeder Asset Management Inc. grew its position in Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 3,333 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Arrowhead Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 788 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Arrowhead Pharmaceuticals in the second quarter valued at about $96,000. 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.