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

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “overweight” rating reiterated by research analysts at Piper Sandler in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $110.00 target price on the biotechnology company’s stock, up from their prior target price of $100.00. Piper Sandler’s price objective points to a potential upside of 61.16% from the company’s previous close.

Several other equities research analysts also recently issued reports on ARWR. Chardan Capital boosted their price objective 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. HC Wainwright boosted their price target on Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective 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. Finally, Bank of America upped their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $73.00.

Arrowhead Pharmaceuticals Trading Up 3.5%

Shares of NASDAQ ARWR traded up $2.33 during trading on Tuesday, hitting $68.26. 469,645 shares of the company traded hands, compared to its average volume of 3,924,633. The firm has a market capitalization of $9.27 billion, a P/E ratio of -852.64 and a beta of 1.21. 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 company has a 50-day moving average price of $57.76 and a 200-day moving average price of $37.13. Arrowhead Pharmaceuticals has a 1 year low of $9.57 and a 1 year high of $76.76.

Insiders Place Their Bets

In other news, Director Adeoye Y. Olukotun sold 10,000 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $67.66, for a total transaction of $676,600.00. Following the transaction, the director owned 33,600 shares of the company’s stock, valued at approximately $2,273,376. This trade represents a 22.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Richard Anzalone sold 13,187 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $66.10, for a total value of $871,660.70. Following the completion of the sale, the chief executive officer directly owned 3,792,739 shares of the company’s stock, valued at approximately $250,700,047.90. This represents a 0.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 510,836 shares of company stock worth $33,603,060. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently made changes to their positions in ARWR. Marex Group plc bought a new position in Arrowhead Pharmaceuticals in the 2nd quarter valued at about $576,000. Marshall Wace LLP raised its position in shares of Arrowhead Pharmaceuticals by 3,507.8% during the 2nd quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock worth $34,065,000 after buying an additional 2,096,238 shares in the last quarter. HBK Sorce Advisory LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $2,823,000. Moody Lynn & Lieberson LLC bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter valued at approximately $213,000. Finally, Norges Bank acquired a new position in shares of Arrowhead Pharmaceuticals during the second quarter valued at approximately $30,414,000. 62.61% of the stock is currently owned by institutional investors.

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.