Piper Sandler Forecasts Strong Price Appreciation for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective upped by equities research analysts at Piper Sandler from $45.00 to $70.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 72.97% from the company’s previous close.

A number of other equities analysts have also commented on ARWR. Royal Bank Of Canada lowered their price objective on Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. B. Riley raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 11th. Morgan Stanley raised their target price on shares of Arrowhead Pharmaceuticals from $29.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, November 12th. Finally, TD Cowen raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $40.47 on Wednesday. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of -31.62 and a beta of 1.27. Arrowhead Pharmaceuticals has a twelve month low of $9.57 and a twelve month high of $43.69. The company has a 50-day simple moving average of $36.36 and a two-hundred day simple moving average of $24.17.

Insider Activity

In other news, insider James C. Hamilton sold 20,000 shares of the stock in a transaction 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 transaction, the insider directly owned 212,122 shares in the company, valued at approximately $7,424,270. This represents a 8.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 50,000 shares of company stock worth $1,525,000 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. iSAM Funds UK Ltd acquired a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at approximately $29,000. Virtus Advisers LLC bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $34,000. Salomon & Ludwin LLC acquired a new position in Arrowhead Pharmaceuticals in the 3rd quarter valued at approximately $34,000. Nisa Investment Advisors LLC increased its position in Arrowhead Pharmaceuticals by 75.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 1,308 shares during the period. Finally, Federated Hermes Inc. bought a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at $52,000. 62.61% of the stock is owned by institutional investors and hedge funds.

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.