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

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

Several other equities analysts have also recently issued reports on the stock. 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 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Piper Sandler reiterated an “overweight” rating and issued a $62.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. One research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.33.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR opened at $18.71 on Wednesday. The stock’s 50-day moving average is $19.96 and its 200-day moving average is $23.31. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System increased its position in shares of Arrowhead Pharmaceuticals by 14.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 33,353 shares of the biotechnology company’s stock valued at $954,000 after acquiring an additional 4,140 shares during the last quarter. Vanguard Group Inc. increased its holdings in Arrowhead Pharmaceuticals by 16.2% during the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after buying an additional 1,731,974 shares during the last quarter. American International Group Inc. raised its position in Arrowhead Pharmaceuticals by 13.4% in the first quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock worth $6,298,000 after acquiring an additional 26,009 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Arrowhead Pharmaceuticals by 9.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,571 shares of the biotechnology company’s stock valued at $2,589,000 after acquiring an additional 8,065 shares during the period. Finally, Natixis purchased a new position in Arrowhead Pharmaceuticals in the first quarter valued at approximately $5,834,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.