Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Buy Rating from HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $80.00 price target on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 305.89% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Piper Sandler cut their price objective on 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 cut their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Citigroup cut their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $19.71 on Thursday. Arrowhead Pharmaceuticals has a one year low of $17.05 and a one year high of $36.72. The stock has a fifty day moving average of $20.69 and a 200-day moving average of $22.07. The company has a market capitalization of $2.45 billion, a PE ratio of -3.93 and a beta of 0.97. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 32,729 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $648,688.78. Following the transaction, the insider now directly owns 272,122 shares of the company’s stock, valued at approximately $5,393,458.04. This represents a 10.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the chief operating officer now directly owns 535,201 shares in the company, valued at $10,607,683.82. This trade represents a 5.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,473 shares of company stock valued at $2,937,847. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. R Squared Ltd acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter worth $38,000. Values First Advisors Inc. acquired a new position in Arrowhead Pharmaceuticals during the third quarter worth $52,000. Mirae Asset Global Investments Co. Ltd. increased its position in Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after buying an additional 788 shares during the last quarter. KBC Group NV increased its position in Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock worth $98,000 after buying an additional 1,644 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Arrowhead Pharmaceuticals during the third quarter worth $149,000. 62.61% of the stock is owned by institutional investors and hedge funds.

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.