Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns “Overweight” Rating from Piper Sandler

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Sandler in a research report issued on Tuesday,Benzinga reports. They presently have a $110.00 price objective on the biotechnology company’s stock, up from their prior price objective of $100.00. Piper Sandler’s target price would suggest a potential upside of 66.89% from the company’s current price.

ARWR has been the topic of a number of other reports. Morgan Stanley lifted their price target on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada raised their price objective on shares of Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. Bank of America boosted their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised their price target on shares of Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Arrowhead Pharmaceuticals Stock Up 0.6%

Shares of NASDAQ:ARWR opened at $65.91 on Tuesday. Arrowhead Pharmaceuticals has a 52-week low of $9.57 and a 52-week high of $76.76. The company has a market capitalization of $8.96 billion, a PE ratio of -823.77 and a beta of 1.21. 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 company has a fifty day moving average of $58.82 and a 200-day moving average of $37.68.

Insider Buying and Selling

In other news, CEO Christopher Richard Anzalone sold 13,187 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $66.10, for a total transaction of $871,660.70. Following the completion of the sale, the chief executive officer directly owned 3,792,739 shares in the company, valued at $250,700,047.90. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mauro Ferrari sold 7,530 shares of the business’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 completion of the transaction, the director owned 69,053 shares in the company, valued at approximately $4,833,710. The trade was a 9.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 510,836 shares of company stock worth $33,603,060. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ARWR. iSAM Funds UK Ltd bought a new stake in Arrowhead Pharmaceuticals in the third quarter worth approximately $29,000. Salomon & Ludwin LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $34,000. Federated Hermes Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $52,000. Smartleaf Asset Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 2,186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,692 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 1,618 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at $34,000. 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.