Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $100.00 Price Target at HC Wainwright

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price upped by HC Wainwright from $85.00 to $100.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 48.51% from the company’s current price.

Other equities analysts have also issued research reports about the company. Chardan Capital lifted their price target on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Morgan Stanley raised their price objective 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 boosted their target price on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (up previously from $100.00) on shares of Arrowhead Pharmaceuticals in a report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.67.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock traded up $2.06 during trading on Wednesday, hitting $67.34. The company had a trading volume of 121,876 shares, compared to its average volume of 3,078,617. The firm has a market capitalization of $9.15 billion, a P/E ratio of -839.15 and a beta of 1.21. Arrowhead Pharmaceuticals has a one year low of $9.57 and a one year high of $76.76. 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 $60.81 and its 200 day moving average price is $39.19.

Insider Activity

In related news, Director Michael S. Perry sold 16,250 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $61.03, for a total transaction of $991,737.50. Following the completion of the sale, the director owned 115,240 shares of the company’s stock, valued at $7,033,097.20. This trade represents a 12.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher Richard Anzalone sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $68.85, for a total value of $8,950,500.00. Following the completion of the transaction, the chief executive officer directly owned 3,971,255 shares in the company, valued at approximately $273,420,906.75. This trade represents a 3.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 510,836 shares of company stock worth $33,603,060 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. iSAM Funds UK Ltd bought a new position in Arrowhead Pharmaceuticals during the third quarter worth $29,000. Salomon & Ludwin LLC acquired a new position in Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $34,000. Federated Hermes Inc. bought a new position in Arrowhead Pharmaceuticals in the third quarter worth approximately $52,000. Smartleaf Asset Management LLC grew its stake in Arrowhead Pharmaceuticals by 2,186.5% in the third 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 during the period. Finally, Virtus Advisers LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the second quarter valued at approximately $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.