Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $80.00 price objective on the biotechnology company’s stock.

ARWR has been the topic of several other research reports. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Piper Sandler reduced their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein lowered 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. Chardan Capital reiterated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.33.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $21.53 on Thursday. The firm has a market capitalization of $2.68 billion, a P/E ratio of -4.29 and a beta of 0.97. The firm’s 50-day moving average price is $20.69 and its 200-day moving average price is $22.07. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $36.72.

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 dated Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $648,688.78. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Richard Anzalone sold 11,520 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total transaction of $219,456.00. Following the transaction, the chief executive officer now directly owns 3,764,252 shares of the company’s stock, valued at $71,709,000.60. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,473 shares of company stock worth $2,937,847 in the last 90 days. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. State Street Corp increased its position in Arrowhead Pharmaceuticals by 8.8% in the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after buying an additional 516,569 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth $9,976,000. Assenagon Asset Management S.A. increased its holdings in Arrowhead Pharmaceuticals by 232.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after acquiring an additional 204,933 shares during the last quarter. Millennium Management LLC increased its holdings in Arrowhead Pharmaceuticals by 61.9% in the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after acquiring an additional 202,280 shares during the last quarter. Finally, abrdn plc raised its stake in Arrowhead Pharmaceuticals by 61.3% in the 3rd quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock valued at $7,770,000 after acquiring an additional 152,476 shares during the period. Institutional investors own 62.61% of the company’s stock.

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.