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

HC Wainwright reissued their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $80.00 price target on the biotechnology company’s stock.

ARWR has been the subject of a number of other research reports. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Citigroup decreased their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Finally, Piper Sandler dropped their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $43.33.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR opened at $20.76 on Thursday. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals has a twelve month low of $17.05 and a twelve month high of $36.72. The business has a 50-day moving average price of $20.73 and a 200-day moving average price of $22.01. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -4.14 and a beta of 0.97.

Insiders Place Their Bets

In other news, COO Patrick O’brien sold 29,184 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $578,426.88. Following the sale, the chief operating officer now owns 535,201 shares of the company’s stock, valued at approximately $10,607,683.82. This represents a 5.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Waddill sold 3,748 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the transaction, the director now directly owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. This represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,473 shares of company stock valued at $2,937,847 in the last three months. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. abrdn plc grew its position in shares of Arrowhead Pharmaceuticals by 12.2% during the fourth quarter. abrdn plc now owns 450,075 shares of the biotechnology company’s stock worth $8,461,000 after acquiring an additional 48,929 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Arrowhead Pharmaceuticals by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 26,385 shares of the biotechnology company’s stock valued at $496,000 after purchasing an additional 2,475 shares during the last quarter. R Squared Ltd acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at $38,000. Pacer Advisors Inc. boosted its stake in Arrowhead Pharmaceuticals by 11.6% in the 4th quarter. Pacer Advisors Inc. now owns 27,918 shares of the biotechnology company’s stock worth $525,000 after buying an additional 2,907 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Arrowhead Pharmaceuticals by 45.9% in the 4th quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 1,644 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.