Arrowhead Pharmaceuticals’ (ARWR) Buy Rating Reiterated at HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued on Wednesday,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 330.80% from the stock’s current price.

A number of other brokerages have also recently issued reports on ARWR. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Citigroup cut their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Piper Sandler decreased their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Sanford C. Bernstein cut their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Finally, Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR opened at $18.57 on Wednesday. The firm has a market capitalization of $2.32 billion, a PE ratio of -3.70 and a beta of 0.95. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $36.72. The firm has a 50-day moving average price of $20.14 and a 200 day moving average price of $21.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). Research analysts anticipate that Arrowhead Pharmaceuticals will post -3.4 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 32,729 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $648,688.78. Following the completion of the sale, the insider now owns 272,122 shares of the company’s stock, valued at approximately $5,393,458.04. The trade was a 10.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth Allen Myszkowski sold 27,167 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.83, for a total value of $538,721.61. Following the completion of the transaction, the chief financial officer now directly owns 473,433 shares in the company, valued at approximately $9,388,176.39. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,432 shares of company stock worth $2,957,986 over the last 90 days. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently made changes to their positions in ARWR. HighTower Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 11.5% during the third quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company’s stock worth $2,401,000 after buying an additional 12,706 shares during the last quarter. Intech Investment Management LLC bought a new position in Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $659,000. Erste Asset Management GmbH acquired a new position in Arrowhead Pharmaceuticals during the third quarter valued at approximately $924,000. Geode Capital Management LLC increased its stake in Arrowhead Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after purchasing an additional 26,171 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Arrowhead Pharmaceuticals in the third quarter worth $14,420,000. 62.61% of the stock is 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.