HC Wainwright Issues Positive Forecast for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price lifted by analysts at HC Wainwright from $60.00 to $80.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 203.72% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Citigroup reduced their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. 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. B. Riley restated a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Sanford C. Bernstein cut their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday. Finally, Chardan Capital reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

Arrowhead Pharmaceuticals Stock Up 1.2 %

Shares of NASDAQ:ARWR traded up $0.31 during trading hours on Tuesday, reaching $26.34. The stock had a trading volume of 2,490,804 shares, compared to its average volume of 1,768,471. 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 firm’s 50 day moving average is $20.28 and its 200-day moving average is $23.23. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -5.25 and a beta of 0.90. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $39.83.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ARWR. Fifth Third Bancorp grew its holdings in Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after buying an additional 354 shares in the last quarter. World Investment Advisors LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 3.8% in the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after buying an additional 788 shares in the last quarter. Arizona State Retirement System lifted its holdings in Arrowhead Pharmaceuticals by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock valued at $901,000 after acquiring an additional 821 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Arrowhead Pharmaceuticals by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after purchasing an additional 886 shares in 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.