Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target hoisted by equities research analysts at Morgan Stanley from $29.00 to $45.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley’s target price suggests a potential upside of 9.38% from the stock’s current price.

ARWR has been the topic of several other research reports. B. Riley raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 11th. TD Cowen raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research note on Monday, July 28th. Wall Street Zen lowered shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Chardan Capital reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $43.38.

Arrowhead Pharmaceuticals Trading Down 0.7%

Shares of NASDAQ ARWR opened at $41.14 on Wednesday. Arrowhead Pharmaceuticals has a 1-year low of $9.57 and a 1-year high of $43.69. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87. The business’s 50 day moving average is $35.60 and its two-hundred day moving average is $23.47. The stock has a market capitalization of $5.69 billion, a P/E ratio of -32.14 and a beta of 1.27.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total value of $700,000.00. Following the completion of the sale, the insider owned 212,122 shares in the company, valued at approximately $7,424,270. The trade was a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 50,000 shares of company stock worth $1,525,000 over the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtus Advisers LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth $34,000. Salomon & Ludwin LLC purchased a new stake in Arrowhead Pharmaceuticals in the third quarter worth about $34,000. Nisa Investment Advisors LLC grew its holdings in Arrowhead Pharmaceuticals by 75.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,308 shares in the last quarter. Federated Hermes Inc. bought a new position in Arrowhead Pharmaceuticals during the 3rd quarter worth about $52,000. Finally, CWM LLC increased its position in Arrowhead Pharmaceuticals by 134.3% during the 1st quarter. CWM LLC now owns 4,401 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 2,523 shares during the period. 62.61% of the stock is owned by institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.