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

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $80.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 285.36% from the stock’s current price.

A number of other brokerages have also issued reports on ARWR. Citigroup lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Sanford C. Bernstein decreased their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Piper Sandler dropped their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $20.76 on Thursday. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -4.14 and a beta of 0.97. The firm has a 50-day moving average of $20.73 and a two-hundred day moving average of $22.04. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $36.72.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $21.90, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James C. Hamilton sold 32,729 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $648,688.78. Following the sale, the insider now directly owns 272,122 shares in the company, valued at $5,393,458.04. This trade represents a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,473 shares of company stock worth $2,937,847 in the last 90 days. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. abrdn plc increased its stake in Arrowhead Pharmaceuticals by 12.2% during the 4th quarter. abrdn plc now owns 450,075 shares of the biotechnology company’s stock worth $8,461,000 after buying an additional 48,929 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Arrowhead Pharmaceuticals by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,385 shares of the biotechnology company’s stock worth $496,000 after acquiring an additional 2,475 shares during the period. R Squared Ltd purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $38,000. Pacer Advisors Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 11.6% in the 4th quarter. Pacer Advisors Inc. now owns 27,918 shares of the biotechnology company’s stock worth $525,000 after acquiring an additional 2,907 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock worth $98,000 after buying an additional 1,644 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.