Arrowhead Pharmaceuticals (NASDAQ:ARWR) Reaches New 12-Month High on Analyst Upgrade

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) hit a new 52-week high during trading on Tuesday after HC Wainwright raised their price target on the stock from $80.00 to $85.00. HC Wainwright currently has a buy rating on the stock. Arrowhead Pharmaceuticals traded as high as $59.27 and last traded at $58.5310, with a volume of 1902187 shares. The stock had previously closed at $56.25.

ARWR has been the topic of a number of other reports. The Goldman Sachs Group upped their price target on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, November 20th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday. Royal Bank Of Canada raised their target price on Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Piper Sandler increased their price target on shares of Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.33.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Mauro Ferrari sold 8,750 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $56.39, for a total value of $493,412.50. Following the sale, the director directly owned 68,764 shares of the company’s stock, valued at approximately $3,877,601.96. This represents a 11.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider James C. Hamilton sold 20,000 shares of the business’s stock in a transaction on 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 owned 212,122 shares of the company’s stock, valued at approximately $7,424,270. The trade was a 8.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,750 shares of company stock valued at $1,643,413 in the last quarter. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ARWR. PNC Financial Services Group Inc. increased its stake in Arrowhead Pharmaceuticals by 3.1% in the third quarter. PNC Financial Services Group Inc. now owns 10,924 shares of the biotechnology company’s stock valued at $377,000 after purchasing an additional 326 shares during the last quarter. State of Wyoming boosted its holdings in shares of Arrowhead Pharmaceuticals by 5.6% in the 3rd quarter. State of Wyoming now owns 9,519 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 504 shares in the last quarter. Arizona State Retirement System grew its position in shares of Arrowhead Pharmaceuticals by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 32,661 shares of the biotechnology company’s stock valued at $1,126,000 after buying an additional 620 shares during the last quarter. CWM LLC raised its stake in Arrowhead Pharmaceuticals by 6.7% during the 3rd quarter. CWM LLC now owns 12,179 shares of the biotechnology company’s stock worth $420,000 after acquiring an additional 764 shares in the last quarter. Finally, Oak Ridge Investments LLC raised its stake in Arrowhead Pharmaceuticals by 2.5% during the 1st quarter. Oak Ridge Investments LLC now owns 33,734 shares of the biotechnology company’s stock worth $430,000 after acquiring an additional 823 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 12.3%

The company has a quick ratio of 4.86, a current ratio of 4.86 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $8.84 billion, a PE ratio of -813.27 and a beta of 1.28. The business’s 50-day moving average is $40.78 and its two-hundred day moving average is $26.90.

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.