HC Wainwright Issues Positive Forecast for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price hoisted by HC Wainwright from $85.00 to $100.00 in a research note issued to investors on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

ARWR has been the topic of a number of other research reports. Chardan Capital upped their target price on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. The Goldman Sachs Group upped their price objective on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Morgan Stanley increased their target price on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Bank of America upped their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Two equities research 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 issued a Sell rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $74.67.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $67.60 on Wednesday. The stock has a market cap of $9.19 billion, a PE ratio of -844.89 and a beta of 1.21. Arrowhead Pharmaceuticals has a 12 month low of $9.57 and a 12 month high of $76.76. The company has a 50-day moving average price of $61.33 and a 200 day moving average price of $39.39. 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 news, CEO Christopher Richard Anzalone sold 130,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $68.85, for a total transaction of $8,950,500.00. Following the transaction, the chief executive officer owned 3,971,255 shares in the company, valued at approximately $273,420,906.75. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael S. Perry sold 16,250 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $61.03, for a total transaction of $991,737.50. Following the completion of the sale, the director directly owned 115,240 shares of the company’s stock, valued at approximately $7,033,097.20. This trade represents a 12.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 510,836 shares of company stock worth $33,603,060 over the last quarter. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Marex Group plc purchased a new stake in Arrowhead Pharmaceuticals in the second quarter valued at about $576,000. Nordea Investment Management AB raised its position in shares of Arrowhead Pharmaceuticals by 74.5% in the 3rd quarter. Nordea Investment Management AB now owns 372,282 shares of the biotechnology company’s stock valued at $12,661,000 after purchasing an additional 158,937 shares during the last quarter. Marshall Wace LLP boosted its stake in Arrowhead Pharmaceuticals by 3,507.8% in the 2nd quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock worth $34,065,000 after purchasing an additional 2,096,238 shares in the last quarter. HBK Sorce Advisory LLC purchased a new stake in Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $2,823,000. Finally, Moody Lynn & Lieberson LLC acquired a new position in Arrowhead Pharmaceuticals during the 2nd quarter valued at approximately $213,000. 62.61% of the stock is currently owned by institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.