Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Up – Still a Buy?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) gapped up before the market opened on Wednesday . The stock had previously closed at $21.05, but opened at $22.30. Arrowhead Pharmaceuticals shares last traded at $22.30, with a volume of 21,374 shares traded.

Analyst Ratings Changes

ARWR has been the subject of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, November 20th. Citigroup decreased their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Wednesday. B. Riley reiterated a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Finally, Chardan Capital reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $42.56.

Arrowhead Pharmaceuticals Stock Performance

The company has a 50 day moving average of $19.95 and a 200 day moving average of $23.18. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -5.60 and a beta of 0.93.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in Arrowhead Pharmaceuticals by 9.4% in the 3rd quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company’s stock valued at $373,000 after acquiring an additional 1,658 shares during the last quarter. World Investment Advisors LLC lifted its position in Arrowhead Pharmaceuticals by 3.8% during the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock worth $371,000 after buying an additional 700 shares in the last quarter. Geode Capital Management LLC boosted its stake in Arrowhead Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after buying an additional 26,171 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Arrowhead Pharmaceuticals in the 3rd quarter valued at $345,000. Finally, Wellington Management Group LLP raised its holdings in shares of 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 acquiring an additional 886 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.