Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $80.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target upped by Chardan Capital from $60.00 to $80.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

A number of other analysts have also issued reports on the company. Royal Bank Of Canada increased their target price on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. The Goldman Sachs Group increased their price objective on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, November 20th. HC Wainwright lifted their target price on Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Piper Sandler upped their target price on Arrowhead Pharmaceuticals from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $71.89.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $64.56 on Wednesday. Arrowhead Pharmaceuticals has a fifty-two week low of $9.57 and a fifty-two week high of $76.76. The firm’s 50 day simple moving average is $57.23 and its 200-day simple moving average is $36.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86. The company has a market cap of $8.77 billion, a P/E ratio of -806.90 and a beta of 1.21.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 40,164 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $63.11, for a total value of $2,534,750.04. Following the completion of the sale, the insider directly owned 171,958 shares of the company’s stock, valued at $10,852,269.38. The trade was a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mauro Ferrari sold 7,530 shares of the firm’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $70.00, for a total transaction of $527,100.00. Following the transaction, the director owned 69,053 shares in the company, valued at $4,833,710. This represents a 9.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 510,836 shares of company stock valued at $33,603,060. Insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Several large investors have recently made changes to their positions in ARWR. Royal Bank of Canada raised its stake in shares of Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after acquiring an additional 10,496 shares in the last quarter. AQR Capital Management LLC acquired a new position in Arrowhead Pharmaceuticals during the first quarter valued at approximately $514,000. Dynamic Technology Lab Private Ltd raised its position in shares of Arrowhead Pharmaceuticals by 40.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 26,969 shares of the biotechnology company’s stock valued at $343,000 after purchasing an additional 7,827 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 34.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after buying an additional 447,456 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 6.9% during the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after buying an additional 979 shares during the period. Institutional investors own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.