Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $81.00 at Bank of America

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective hoisted by Bank of America from $62.00 to $81.00 in a report issued on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the biotechnology company’s stock.

ARWR has been the topic of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Piper Sandler increased their price target on shares of Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. HC Wainwright raised their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. B. Riley raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 11th. Finally, Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, December 1st. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.44.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $68.83 on Tuesday. Arrowhead Pharmaceuticals has a 12-month low of $9.57 and a 12-month high of $71.50. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of -860.27 and a beta of 1.28. The stock’s 50 day moving average price is $43.40 and its two-hundred day moving average price is $28.40. The company has a quick ratio of 4.86, a current ratio of 4.86 and a debt-to-equity ratio of 0.43.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, Director Mauro Ferrari sold 8,750 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, November 28th. The stock was sold at an average price of $56.39, for a total value of $493,412.50. Following the completion of the transaction, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James C. Hamilton sold 20,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total value of $700,000.00. Following the sale, the insider directly owned 212,122 shares in the company, valued at approximately $7,424,270. This trade represents a 8.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,000 shares of company stock worth $2,635,150 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds have recently bought and sold shares of ARWR. Cantor Fitzgerald L. P. raised its position in shares of Arrowhead Pharmaceuticals by 14.7% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 19,500 shares of the biotechnology company’s stock valued at $673,000 after buying an additional 2,500 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in Arrowhead Pharmaceuticals in the third quarter valued at approximately $444,000. Keystone Financial Group acquired a new position in Arrowhead Pharmaceuticals during the third quarter valued at approximately $276,000. CANADA LIFE ASSURANCE Co lifted its stake in Arrowhead Pharmaceuticals by 11.7% during the third quarter. CANADA LIFE ASSURANCE Co now owns 129,958 shares of the biotechnology company’s stock worth $4,389,000 after purchasing an additional 13,653 shares during the last quarter. Finally, Woodline Partners LP boosted its holdings in shares of Arrowhead Pharmaceuticals by 34.0% in the 3rd quarter. Woodline Partners LP now owns 1,000,158 shares of the biotechnology company’s stock valued at $34,495,000 after purchasing an additional 254,002 shares in the last quarter. 62.61% of the stock is owned by 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.