B. Riley Issues Positive Forecast for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target upped by B. Riley from $61.00 to $101.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the stock. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (up previously from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. Chardan Capital raised their target price on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright increased their price objective on Arrowhead Pharmaceuticals from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Arrowhead Pharmaceuticals Trading Up 2.9%

Shares of ARWR stock opened at $69.59 on Thursday. The stock has a 50-day simple moving average of $61.90 and a 200 day simple moving average of $39.60. The stock has a market capitalization of $9.46 billion, a P/E ratio of -869.77 and a beta of 1.21. Arrowhead Pharmaceuticals has a fifty-two week low of $9.57 and a fifty-two week high of $76.76. 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 related news, CEO Christopher Richard Anzalone sold 130,000 shares of the company’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 directly owned 3,971,255 shares of the company’s stock, valued at approximately $273,420,906.75. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick O’brien sold 49,493 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $63.11, for a total value of $3,123,503.23. Following the sale, the chief operating officer owned 474,908 shares of the company’s stock, valued at $29,971,443.88. The trade was a 9.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 510,836 shares of company stock worth $33,603,060. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its position 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 buying an additional 2,096,238 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Arrowhead Pharmaceuticals by 3,142.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after acquiring an additional 2,017,489 shares during the last quarter. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth $30,414,000. Deerfield Management Company L.P. purchased a new stake in shares of Arrowhead Pharmaceuticals during the third quarter worth $34,249,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Arrowhead Pharmaceuticals during the third quarter valued at $27,349,000. 62.61% of the stock is owned by hedge funds and other 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.