Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $48.00 Price Target at The Goldman Sachs Group

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $27.00 to $48.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 23.17% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Morgan Stanley lifted their target price on Arrowhead Pharmaceuticals from $29.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. Finally, B. Riley upgraded Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.22.

Arrowhead Pharmaceuticals Trading Down 3.7%

Shares of ARWR opened at $38.97 on Thursday. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of -30.45 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87. Arrowhead Pharmaceuticals has a 1-year low of $9.57 and a 1-year high of $43.69. The company has a 50-day moving average of $36.56 and a 200 day moving average of $24.28.

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 on Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total transaction of $700,000.00. Following the transaction, the insider directly owned 212,122 shares in the company, valued at $7,424,270. The trade was a 8.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 50,000 shares of company stock valued at $1,525,000. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently modified their holdings of the business. iSAM Funds UK Ltd acquired a new position in Arrowhead Pharmaceuticals during the 3rd quarter valued at approximately $29,000. Virtus Advisers LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at $34,000. Salomon & Ludwin LLC purchased a new position in Arrowhead Pharmaceuticals in the 3rd quarter worth $34,000. Nisa Investment Advisors LLC grew its stake 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 valued at $48,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals during the third quarter worth about $52,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.