Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $45.33.

A number of brokerages have recently issued reports on ARWR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Piper Sandler reaffirmed an “overweight” rating and set a $62.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. B. Riley reaffirmed a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday, November 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARWR. State Board of Administration of Florida Retirement System grew its stake in Arrowhead Pharmaceuticals by 14.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 33,353 shares of the biotechnology company’s stock valued at $954,000 after purchasing an additional 4,140 shares in the last quarter. Vanguard Group Inc. grew its stake in Arrowhead Pharmaceuticals by 16.2% in the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after purchasing an additional 1,731,974 shares in the last quarter. American International Group Inc. grew its stake in Arrowhead Pharmaceuticals by 13.4% in the first quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock valued at $6,298,000 after purchasing an additional 26,009 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Arrowhead Pharmaceuticals by 9.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,571 shares of the biotechnology company’s stock valued at $2,589,000 after purchasing an additional 8,065 shares in the last quarter. Finally, Avoro Capital Advisors LLC grew its stake in Arrowhead Pharmaceuticals by 657.1% in the first quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock valued at $244,689,000 after purchasing an additional 7,425,555 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Down 2.1 %

Shares of Arrowhead Pharmaceuticals stock opened at $18.32 on Friday. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -3.92 and a beta of 0.93. The business has a fifty day simple moving average of $19.92 and a 200-day simple moving average of $23.28. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $39.83.

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.