Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $85.00 at HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective lifted by HC Wainwright from $80.00 to $85.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other brokerages have also weighed in on ARWR. The Goldman Sachs Group raised their target price on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, November 20th. Piper Sandler raised their price objective on shares of Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. Morgan Stanley increased their price target on shares of Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Finally, Royal Bank Of Canada boosted their price objective on shares of Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.33.

Arrowhead Pharmaceuticals Stock Up 3.0%

Shares of NASDAQ ARWR opened at $57.95 on Tuesday. The stock has a market cap of $7.87 billion, a PE ratio of -724.28 and a beta of 1.28. The business has a fifty day moving average of $40.14 and a two-hundred day moving average of $26.63. Arrowhead Pharmaceuticals has a 52-week low of $9.57 and a 52-week high of $59.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.86 and a current ratio of 4.86.

Insiders Place Their Bets

In related news, insider James C. Hamilton sold 20,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $35.00, for a total transaction of $700,000.00. Following the completion of the transaction, the insider owned 212,122 shares in the company, valued at approximately $7,424,270. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mauro Ferrari sold 8,750 shares of the firm’s stock in a transaction dated 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. The trade was a 11.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 43,750 shares of company stock worth $1,643,413. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock valued at $553,077,000 after acquiring an additional 510,798 shares in the last quarter. Avoro Capital Advisors LLC grew its position in shares of Arrowhead Pharmaceuticals by 2.8% during the 3rd quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock worth $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 increased its holdings 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 purchasing an additional 2,774,933 shares during the period. Geode Capital Management LLC raised its position in shares of Arrowhead Pharmaceuticals by 1.0% in the second quarter. Geode Capital Management LLC now owns 2,978,505 shares of the biotechnology company’s stock valued at $47,067,000 after buying an additional 28,193 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in Arrowhead Pharmaceuticals by 0.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,528,982 shares of the biotechnology company’s stock worth $32,220,000 after acquiring an additional 21,686 shares during the period. 62.61% of the stock is owned by institutional investors.

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.