Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $81.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective lifted by Morgan Stanley from $48.00 to $81.00 in a research report report published on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the biotechnology company’s stock.

Other analysts have also recently issued reports about the company. HC Wainwright upped their target price on Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Chardan Capital boosted their price target on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler upped their price objective on shares of Arrowhead Pharmaceuticals from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Bank of America lifted their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Two investment 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 given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.89.

Arrowhead Pharmaceuticals Trading Down 0.7%

NASDAQ ARWR opened at $64.56 on Wednesday. The firm has a market capitalization of $8.77 billion, a PE ratio of -806.90 and a beta of 1.21. The business’s 50-day moving average price is $57.23 and its two-hundred day moving average price is $36.49. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.43. Arrowhead Pharmaceuticals has a 12 month low of $9.57 and a 12 month high of $76.76.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, COO Patrick O’brien sold 49,493 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $63.11, for a total value of $3,123,503.23. Following the transaction, the chief operating officer directly owned 474,908 shares in the company, valued at $29,971,443.88. This trade represents a 9.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael S. Perry sold 16,250 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $61.03, for a total transaction of $991,737.50. Following 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 position. The SEC filing for this sale provides additional information. Insiders sold 510,836 shares of company stock valued at $33,603,060 over the last ninety days. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

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