Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a $60.00 target price on the biotechnology company’s stock.

ARWR has been the topic of several other research reports. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday, November 12th. Piper Sandler restated an “overweight” rating and issued a $62.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Finally, B. Riley reiterated a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.33.

Arrowhead Pharmaceuticals Stock Up 1.4 %

Arrowhead Pharmaceuticals stock opened at $18.54 on Wednesday. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -3.97 and a beta of 0.93. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $39.83. The business’s 50-day moving average price is $19.86 and its 200 day moving average price is $23.22.

Institutional Trading of Arrowhead Pharmaceuticals

Several large investors have recently made changes to their positions in ARWR. State Board of Administration of Florida Retirement System grew its holdings in shares of Arrowhead Pharmaceuticals by 14.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 33,353 shares of the biotechnology company’s stock worth $954,000 after buying an additional 4,140 shares in the last quarter. Vanguard Group Inc. grew its stake in Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after acquiring an additional 1,731,974 shares in the last quarter. American International Group Inc. raised its holdings in Arrowhead Pharmaceuticals by 13.4% in the 1st quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock valued at $6,298,000 after acquiring an additional 26,009 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Arrowhead Pharmaceuticals by 9.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,571 shares of the biotechnology company’s stock worth $2,589,000 after purchasing an additional 8,065 shares in the last quarter. Finally, Natixis acquired a new position in shares of Arrowhead Pharmaceuticals during the 1st quarter worth approximately $5,834,000. 62.61% of the stock is currently owned by hedge funds and other 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.