Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 12-Month High After Analyst Upgrade

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price reached a new 52-week high during trading on Tuesday after HC Wainwright raised their price target on the stock from $80.00 to $85.00. HC Wainwright currently has a buy rating on the stock. Arrowhead Pharmaceuticals traded as high as $59.27 and last traded at $58.5310, with a volume of 1902187 shares trading hands. The stock had previously closed at $56.25.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. B. Riley raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 11th. Piper Sandler upped their price objective on Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Royal Bank Of Canada increased their price objective on Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total transaction of $700,000.00. Following the sale, the insider owned 212,122 shares of the company’s stock, valued at $7,424,270. This trade represents a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mauro Ferrari sold 8,750 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $56.39, for a total value of $493,412.50. Following the completion of the transaction, the director owned 68,764 shares of the company’s stock, valued at $3,877,601.96. This represents a 11.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 43,750 shares of company stock valued at $1,643,413 in the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently made changes to their positions in ARWR. Vanguard Group Inc. boosted its stake in Arrowhead Pharmaceuticals by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock worth $553,077,000 after purchasing an additional 510,798 shares during the period. Avoro Capital Advisors LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 2.8% in the third quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock valued at $375,941,000 after purchasing an additional 300,000 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Arrowhead Pharmaceuticals by 138.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company’s stock worth $60,962,000 after buying an additional 2,774,933 shares during the period. Geode Capital Management LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 1.0% during the second quarter. Geode Capital Management LLC now owns 2,978,505 shares of the biotechnology company’s stock worth $47,067,000 after buying an additional 28,193 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in Arrowhead Pharmaceuticals by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,528,982 shares of the biotechnology company’s stock valued at $32,220,000 after buying an additional 21,686 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $40.14 and a 200 day simple moving average of $26.63. The stock has a market cap of $7.87 billion, a P/E ratio of -724.28 and a beta of 1.28.

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.