HC Wainwright Reaffirms “Buy” Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

HC Wainwright reissued their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $60.00 target price on the biotechnology company’s stock.

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

Arrowhead Pharmaceuticals Trading Up 1.4 %

ARWR opened at $18.54 on Wednesday. Arrowhead Pharmaceuticals has a 12 month low of $17.05 and a 12 month high of $39.83. The stock has a 50-day moving average of $19.92 and a 200 day moving average of $23.28. The firm has a market cap of $2.30 billion, a P/E ratio of -3.97 and a beta of 0.93.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC grew its holdings in Arrowhead Pharmaceuticals by 657.1% in the first quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock worth $244,689,000 after purchasing an additional 7,425,555 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after purchasing an additional 1,731,974 shares during the last quarter. State Street Corp boosted its position in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after purchasing an additional 516,569 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Arrowhead Pharmaceuticals during the 2nd quarter worth $9,976,000. Finally, Assenagon Asset Management S.A. increased its position in Arrowhead Pharmaceuticals by 232.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock valued at $5,677,000 after buying an additional 204,933 shares in the last quarter. Institutional investors 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.