Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $52.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target raised by Royal Bank Of Canada from $45.00 to $52.00 in a research report released on Wednesday,Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

Other analysts also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of Arrowhead Pharmaceuticals from $29.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 12th. Piper Sandler raised their price target on Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday. B. Riley raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 11th. Chardan Capital reiterated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. Finally, TD Cowen raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.22.

Arrowhead Pharmaceuticals Trading Up 6.2%

Shares of Arrowhead Pharmaceuticals stock opened at $40.45 on Wednesday. Arrowhead Pharmaceuticals has a 1 year low of $9.57 and a 1 year high of $43.69. The firm has a market cap of $5.59 billion, a PE ratio of -31.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87. The company has a 50 day simple moving average of $36.95 and a two-hundred day simple moving average of $24.56.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total transaction of $700,000.00. Following the transaction, the insider directly owned 212,122 shares of the company’s stock, valued at approximately $7,424,270. This trade represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 50,000 shares of company stock worth $1,525,000 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. iSAM Funds UK Ltd bought a new stake in Arrowhead Pharmaceuticals in the third quarter valued at approximately $29,000. Virtus Advisers LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth $34,000. Salomon & Ludwin LLC bought a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at $34,000. Nisa Investment Advisors LLC boosted its position in Arrowhead Pharmaceuticals by 75.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 1,308 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at $52,000. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Company Profile

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.