HC Wainwright Reaffirms Buy Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $80.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 311.31% from the stock’s previous close.

Several other equities analysts have also recently weighed in on ARWR. Piper Sandler cut their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Sanford C. Bernstein dropped their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $19.45 on Friday. The stock’s fifty day simple moving average is $21.26 and its 200 day simple moving average is $23.05. 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 has a market capitalization of $2.42 billion, a PE ratio of -3.87 and a beta of 0.91. Arrowhead Pharmaceuticals has a 12 month low of $17.05 and a 12 month high of $39.83.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director William D. Waddill sold 3,748 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $21.90, for a total transaction of $82,081.20. Following the sale, the director now owns 44,125 shares in the company, valued at approximately $966,337.50. This represents a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Richard Anzalone sold 26,712 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 3,688,335 shares of the company’s stock, valued at approximately $78,340,235.40. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

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