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

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

Other equities analysts also recently issued reports about the company. 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. Citigroup reduced their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Sanford C. Bernstein lowered 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. Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Arrowhead Pharmaceuticals Trading Down 0.3 %

NASDAQ ARWR opened at $19.45 on Friday. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $2.42 billion, a P/E ratio of -3.87 and a beta of 0.91. Arrowhead Pharmaceuticals has a 52-week low of $17.05 and a 52-week high of $39.83. The firm has a 50-day moving average price of $21.26 and a 200 day moving average price of $23.04.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, CEO Christopher Richard Anzalone sold 26,712 shares of the business’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 $78,340,235.40. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William D. Waddill sold 3,748 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $21.90, for a total transaction of $82,081.20. Following the transaction, the director now directly owns 44,125 shares in the company, valued at $966,337.50. The trade was a 7.83 % decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp grew its holdings in Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 354 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals in the third quarter worth approximately $52,000. Meeder Asset Management Inc. grew its holdings in Arrowhead Pharmaceuticals by 4,629.2% in the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 3,333 shares during the period. 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 purchasing an additional 788 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter worth approximately $96,000. 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.