Arrowhead Pharmaceuticals’ (ARWR) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report released on Friday morning,Benzinga reports. HC Wainwright currently has a $80.00 price target on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on the stock. Piper Sandler dropped their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Finally, Citigroup reduced their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.70.

Arrowhead Pharmaceuticals Stock Down 0.3 %

Shares of NASDAQ:ARWR opened at $19.45 on Friday. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $39.83. The stock has a 50-day simple moving average of $21.26 and a 200-day simple moving average of $23.04. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The stock has a market capitalization of $2.42 billion, a P/E ratio of -3.87 and a beta of 0.91.

Insider Activity at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 26,712 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $21.24, for a total value of $567,362.88. Following the sale, the chief executive officer now directly owns 3,688,335 shares of the company’s stock, valued at $78,340,235.40. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William D. Waddill sold 3,748 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $21.90, for a total transaction of $82,081.20. Following the transaction, the director now owns 44,125 shares in the company, valued at $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Arrowhead Pharmaceuticals by 9.4% in the third quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company’s stock worth $373,000 after purchasing an additional 1,658 shares in the last quarter. World Investment Advisors LLC raised its stake in Arrowhead Pharmaceuticals by 3.8% during the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 700 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Arrowhead Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after buying an additional 26,171 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $345,000. Finally, Wellington Management Group LLP grew its position in shares of Arrowhead Pharmaceuticals by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after acquiring an additional 886 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.