Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Rating Upgraded by StockNews.com

Arrowhead Pharmaceuticals (NASDAQ:ARWR) was upgraded by research analysts at StockNews.com to a “sell” rating in a report issued on Friday.

A number of other equities analysts have also recently commented on ARWR. Piper Sandler cut their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. HC Wainwright raised their target price on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Finally, Citigroup reduced 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, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.70.

Arrowhead Pharmaceuticals Trading Down 0.3 %

NASDAQ:ARWR opened at $19.45 on Friday. The company has a market capitalization of $2.42 billion, a PE ratio of -3.87 and a beta of 0.91. Arrowhead Pharmaceuticals has a 52-week low of $17.05 and a 52-week high of $39.83. The stock’s 50 day moving average price is $21.26 and its 200 day moving average price is $23.05. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 26,712 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.24, for a total value of $567,362.88. Following the sale, the chief executive officer now owns 3,688,335 shares of the company’s stock, valued at $78,340,235.40. This represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Waddill sold 3,748 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the sale, the director now owns 44,125 shares in the company, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC boosted its position in Arrowhead Pharmaceuticals by 11.5% during the third quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company’s stock worth $2,401,000 after acquiring an additional 12,706 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in Arrowhead Pharmaceuticals by 3.9% during the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after buying an additional 333,333 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the third quarter worth approximately $659,000. Erste Asset Management GmbH acquired a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at $924,000. Finally, Millennium Management LLC grew its stake in shares of Arrowhead Pharmaceuticals by 61.9% during the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after buying an additional 202,280 shares during the period. 62.61% of the stock is currently 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.