Arrowhead Pharmaceuticals (NASDAQ:ARWR) Receives “Buy” Rating from HC Wainwright

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

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

Arrowhead Pharmaceuticals Stock Up 0.6 %

Shares of ARWR opened at $18.71 on Wednesday. The company has a 50-day simple moving average of $19.96 and a 200-day simple moving average of $23.31. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $39.83.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of Arrowhead Pharmaceuticals by 42.5% in the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 354 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at approximately $52,000. Meeder Asset Management Inc. increased its stake in shares of Arrowhead Pharmaceuticals by 4,629.2% during the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 3,333 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the second quarter valued at about $96,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Company Profile

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.