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

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $60.00 target price on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 227.59% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Piper Sandler reiterated an “overweight” rating and issued a $62.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Finally, B. Riley restated a “buy” rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $45.33.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $18.32 on Wednesday. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -3.92 and a beta of 0.93. The stock has a 50 day moving average price of $19.92 and a 200-day moving average price of $23.28. Arrowhead Pharmaceuticals has a one year low of $17.05 and a one year high of $39.83.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after buying an additional 1,731,974 shares during the period. Avoro Capital Advisors LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 3.9% in the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after buying an additional 333,333 shares during the period. State Street Corp raised its position in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after acquiring an additional 516,569 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Arrowhead Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after acquiring an additional 26,171 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Arrowhead Pharmaceuticals by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after acquiring an additional 30,086 shares in the last quarter. 62.61% of the stock is currently 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.