Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Receives $42.70 Average Price Target from Analysts

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $42.70.

Several equities research analysts have issued reports on ARWR shares. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday. Chardan Capital reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. Piper Sandler decreased their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Friday.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR opened at $19.45 on Tuesday. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83. The company has a market cap of $2.42 billion, a PE ratio of -3.87 and a beta of 0.91. The stock’s 50 day simple moving average is $21.26 and its 200-day simple moving average is $23.05.

Insider Activity

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

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp lifted its position 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 purchasing an additional 354 shares in the last quarter. World Investment Advisors LLC lifted its holdings in Arrowhead Pharmaceuticals by 3.8% during the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock worth $371,000 after buying an additional 700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position 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 valued at $88,000 after buying an additional 788 shares during the period. Arizona State Retirement System grew its stake in shares of Arrowhead Pharmaceuticals by 2.4% in the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after acquiring an additional 821 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Arrowhead Pharmaceuticals by 1.5% during the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after acquiring an additional 886 shares during the period. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Company Profile

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.