Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $100.00 Price Target at Piper Sandler

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective lifted by Piper Sandler from $70.00 to $100.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. The Goldman Sachs Group increased their price target on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, November 20th. Bank of America raised their price target on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Morgan Stanley increased their target price on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 26th. Finally, Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.89.

Arrowhead Pharmaceuticals Trading Up 0.2%

Shares of NASDAQ:ARWR opened at $64.80 on Wednesday. The stock has a 50 day moving average of $47.22 and a 200 day moving average of $30.50. The company has a market cap of $8.81 billion, a PE ratio of -809.90 and a beta of 1.28. Arrowhead Pharmaceuticals has a 12-month low of $9.57 and a 12-month high of $72.36. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.43.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Mauro Ferrari sold 8,750 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $56.39, for a total transaction of $493,412.50. Following the completion of the transaction, the director owned 68,764 shares in the company, valued at $3,877,601.96. This trade represents a 11.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael S. Perry sold 16,250 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $61.03, for a total value of $991,737.50. Following the completion of the sale, the director directly owned 115,240 shares in the company, valued at approximately $7,033,097.20. The trade was a 12.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 229,298 shares of company stock worth $14,533,619. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARWR. Vanguard Group Inc. increased its position in Arrowhead Pharmaceuticals by 3.3% in the third 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 last quarter. Avoro Capital Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 2.8% in the 3rd quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock worth $375,941,000 after buying 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% in the 1st 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 last quarter. Geode Capital Management LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 1.0% in the 2nd 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 during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of 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 valued at $32,220,000 after buying an additional 21,686 shares in the last quarter. 62.61% of the stock is currently 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.