HC Wainwright Reiterates Buy Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

HC Wainwright reaffirmed their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research report released on Wednesday,Benzinga reports. HC Wainwright currently has a $60.00 target price on the biotechnology company’s stock.

Several other brokerages have also weighed in on ARWR. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Piper Sandler reissued an “overweight” rating and set a $62.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Finally, B. Riley reissued a “buy” rating and issued a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $45.33.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $18.54 on Wednesday. The company’s 50-day moving average is $19.86 and its two-hundred day moving average is $23.22. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -3.97 and a beta of 0.93.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its position in shares of Arrowhead Pharmaceuticals by 42.5% during the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 354 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 788 shares in the last quarter. Arizona State Retirement System grew its stake in Arrowhead Pharmaceuticals by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after purchasing an additional 821 shares in the last quarter. Wellington Management Group LLP increased its holdings in Arrowhead Pharmaceuticals by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after purchasing an additional 886 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Arrowhead Pharmaceuticals by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 980 shares in the last quarter. 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.