Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given “Overweight” Rating at Piper Sandler

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “overweight” rating reiterated by Piper Sandler in a report released on Tuesday,Benzinga reports. They currently have a $110.00 price objective on the biotechnology company’s stock, up from their prior price objective of $100.00. Piper Sandler’s price objective indicates a potential upside of 61.16% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Morgan Stanley increased their price objective on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada increased their price target on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. HC Wainwright lifted their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Bank of America upped their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Finally, Chardan Capital raised their target price on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR traded up $2.33 on Tuesday, reaching $68.26. The company’s stock had a trading volume of 469,645 shares, compared to its average volume of 3,924,633. Arrowhead Pharmaceuticals has a 52-week low of $9.57 and a 52-week high of $76.76. The stock has a market capitalization of $9.27 billion, a P/E ratio of -852.64 and a beta of 1.21. The stock’s 50-day moving average is $57.76 and its two-hundred day moving average is $37.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, CEO Christopher Richard Anzalone sold 130,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, December 15th. The stock was sold at an average price of $68.85, for a total transaction of $8,950,500.00. Following the completion of the transaction, the chief executive officer owned 3,971,255 shares of the company’s stock, valued at $273,420,906.75. The trade was a 3.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James C. Hamilton sold 40,164 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $63.11, for a total transaction of $2,534,750.04. Following the completion of the sale, the insider owned 171,958 shares in the company, valued at $10,852,269.38. This represents a 18.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 510,836 shares of company stock valued at $33,603,060. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its position in shares of Arrowhead Pharmaceuticals by 11.6% in the fourth quarter. SG Americas Securities LLC now owns 50,299 shares of the biotechnology company’s stock valued at $3,339,000 after purchasing an additional 5,233 shares during the period. Assenagon Asset Management S.A. lifted its position in Arrowhead Pharmaceuticals by 79.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 684,889 shares of the biotechnology company’s stock worth $45,470,000 after buying an additional 304,264 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Arrowhead Pharmaceuticals by 25.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,961 shares of the biotechnology company’s stock worth $1,343,000 after buying an additional 3,878 shares during the last quarter. Fermata Advisors LLC purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $398,000. Finally, GAMMA Investing LLC increased its stake in shares of Arrowhead Pharmaceuticals by 39.0% during the 4th quarter. GAMMA Investing LLC now owns 3,649 shares of the biotechnology company’s stock valued at $242,000 after acquiring an additional 1,023 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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.