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

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $80.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 318.63% from the stock’s current price.

Other equities analysts have also issued reports about the stock. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Citigroup cut their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Sanford C. Bernstein cut their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Hold” and a consensus price target of $43.33.

Arrowhead Pharmaceuticals Stock Up 2.9 %

NASDAQ:ARWR opened at $19.11 on Wednesday. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $36.72. The stock has a market capitalization of $2.41 billion, a P/E ratio of -3.81 and a beta of 0.95. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The company’s 50-day simple moving average is $20.08 and its 200-day simple moving average is $21.22.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). On average, equities analysts anticipate that Arrowhead Pharmaceuticals will post -3.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 11,520 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $19.05, for a total transaction of $219,456.00. Following the completion of the transaction, the chief executive officer now owns 3,764,252 shares in the company, valued at approximately $71,709,000.60. The trade was a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James C. Hamilton sold 32,729 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total value of $648,688.78. Following the transaction, the insider now owns 272,122 shares of the company’s stock, valued at $5,393,458.04. This trade represents a 10.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,432 shares of company stock valued at $2,957,986. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth approximately $1,629,000. Barclays PLC grew its holdings in shares of Arrowhead Pharmaceuticals by 13.0% during the 4th quarter. Barclays PLC now owns 312,560 shares of the biotechnology company’s stock worth $5,876,000 after purchasing an additional 35,950 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 2.2% during the 4th quarter. Ameritas Investment Partners Inc. now owns 37,994 shares of the biotechnology company’s stock worth $714,000 after purchasing an additional 803 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth approximately $651,000. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 10.2% during the 4th quarter. ADAR1 Capital Management LLC now owns 12,900 shares of the biotechnology company’s stock worth $243,000 after purchasing an additional 1,195 shares in the last quarter. 62.61% of the stock is 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.