Royal Bank Of Canada Forecasts Strong Price Appreciation for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target raised by analysts at Royal Bank Of Canada from $52.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 14.14% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, November 20th. Chardan Capital reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, December 1st. Piper Sandler raised their target price 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Finally, HC Wainwright increased their price objective on Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $58.56.

Arrowhead Pharmaceuticals Trading Down 1.0%

ARWR opened at $70.09 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.86 and a current ratio of 4.86. The stock’s 50 day moving average price is $45.48 and its 200-day moving average price is $29.36. Arrowhead Pharmaceuticals has a one year low of $9.57 and a one year high of $72.36. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of -876.02 and a beta of 1.28.

Insider Activity at Arrowhead Pharmaceuticals

In related news, Director Mauro Ferrari sold 8,750 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $56.39, for a total transaction of $493,412.50. Following the transaction, the director directly owned 68,764 shares of the company’s stock, valued at $3,877,601.96. This trade represents a 11.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael S. Perry sold 16,250 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $61.03, for a total value of $991,737.50. Following the sale, the director owned 115,240 shares of the company’s stock, valued at approximately $7,033,097.20. This represents a 12.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,000 shares of company stock valued at $2,185,150 over the last ninety days. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Arrowhead Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock worth $553,077,000 after purchasing an additional 510,798 shares in the last quarter. Avoro Capital Advisors LLC grew its position in shares of Arrowhead Pharmaceuticals by 2.8% in the 3rd quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock worth $375,941,000 after buying an additional 300,000 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Arrowhead Pharmaceuticals by 138.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company’s stock worth $60,962,000 after acquiring an additional 2,774,933 shares in the last quarter. Geode Capital Management LLC lifted its position in Arrowhead Pharmaceuticals by 1.0% during the second quarter. Geode Capital Management LLC now owns 2,978,505 shares of the biotechnology company’s stock valued at $47,067,000 after acquiring an additional 28,193 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Arrowhead Pharmaceuticals by 0.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,528,982 shares of the biotechnology company’s stock valued at $32,220,000 after acquiring an additional 21,686 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

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.