Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $43.33.

ARWR has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Friday, December 20th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. 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. Piper Sandler lowered their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Citigroup reduced their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th.

Arrowhead Pharmaceuticals Trading Up 4.9 %

Shares of Arrowhead Pharmaceuticals stock opened at $18.93 on Friday. The company has a fifty day simple moving average of $20.95 and a 200-day simple moving average of $22.30. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $36.72. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -3.77 and a beta of 0.97.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 26,712 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $21.24, for a total transaction of $567,362.88. Following the transaction, the chief executive officer now owns 3,688,335 shares in the company, valued at approximately $78,340,235.40. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William D. Waddill sold 3,748 shares of the firm’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 value of $82,081.20. Following the completion of the sale, the director now directly owns 44,125 shares of the company’s stock, valued at $966,337.50. This represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,473 shares of company stock valued at $2,937,847. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its holdings in Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after buying an additional 516,569 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $9,976,000. Avoro Capital Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 3.9% in the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after acquiring an additional 333,333 shares during the period. Assenagon Asset Management S.A. increased its stake in Arrowhead Pharmaceuticals by 232.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock valued at $5,677,000 after purchasing an additional 204,933 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Arrowhead Pharmaceuticals by 61.9% during the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after purchasing an additional 202,280 shares during 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.