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

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

A number of other research firms also recently issued reports on ARWR. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. Sanford C. Bernstein decreased their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Finally, Piper Sandler cut 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 note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $42.70.

Arrowhead Pharmaceuticals Stock Down 0.3 %

ARWR stock 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 market cap of $2.42 billion, a price-to-earnings ratio of -3.87 and a beta of 0.91. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. The company’s 50 day moving average is $21.23 and its 200 day moving average is $23.09.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher Richard Anzalone sold 26,712 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $21.24, for a total value of $567,362.88. Following the transaction, the chief executive officer now owns 3,688,335 shares in the company, valued at $78,340,235.40. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. HighTower Advisors LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 11.5% during the third quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company’s stock valued at $2,401,000 after purchasing an additional 12,706 shares during the last quarter. Avoro Capital Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after acquiring an additional 333,333 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the third quarter worth $659,000. Erste Asset Management GmbH bought a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at $924,000. Finally, Millennium Management LLC raised its position in shares of Arrowhead Pharmaceuticals by 61.9% in the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after purchasing an additional 202,280 shares during the last quarter. 62.61% of the stock is 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.