Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Receives $45.33 Average Price Target from Brokerages

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $45.33.

A number of research analysts have recently commented on ARWR shares. B. Riley reaffirmed a “buy” rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday, November 12th.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 1,731,974 shares during the period. Avoro Capital Advisors LLC increased its stake in shares of Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after acquiring an additional 333,333 shares during the last quarter. American International Group Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 13.4% during 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 in the last quarter. Millennium Management LLC boosted its position in Arrowhead Pharmaceuticals by 61.9% during the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after purchasing an additional 202,280 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Arrowhead Pharmaceuticals in the third quarter valued at about $14,420,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 1.4 %

NASDAQ:ARWR opened at $18.54 on Friday. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -3.97 and a beta of 0.93. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $39.83. The company’s 50-day moving average is $19.86 and its two-hundred day moving average is $23.21.

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.