Brokerages Set Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) PT at $43.33

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten brokerages that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $43.33.

A number of equities research analysts recently weighed in on ARWR shares. Chardan Capital reaffirmed a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Citigroup lowered their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. StockNews.com upgraded Arrowhead Pharmaceuticals to a "sell" rating in a research note on Friday, December 20th. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Friday, December 20th. Finally, Piper Sandler dropped their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, November 27th.

Arrowhead Pharmaceuticals Stock Down 6.4 %

NASDAQ:ARWR traded down $1.26 during trading hours on Friday, hitting $18.49. The stock had a trading volume of 2,506,026 shares, compared to its average volume of 1,535,603. The company has a market cap of $2.30 billion, a PE ratio of -3.68 and a beta of 0.97. The business has a 50 day simple moving average of $21.03 and a two-hundred day simple moving average of $22.43. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.54. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the transaction, the director now owns 44,125 shares of the company's stock, valued at $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Adeoye Y. Olukotun sold 2,850 shares of the company's stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $20.00, for a total value of $57,000.00. Following the transaction, the director now directly owns 36,740 shares of the company's stock, valued at $734,800. This trade represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,473 shares of company stock valued at $2,937,847. Corporate insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ARWR. State Street Corp grew its position in shares of Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company's stock worth $123,083,000 after acquiring an additional 516,569 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Arrowhead Pharmaceuticals during the 2nd quarter valued at about $9,976,000. Avoro Capital Advisors LLC grew its position in Arrowhead Pharmaceuticals by 3.9% in the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company's stock worth $231,022,000 after purchasing an additional 333,333 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Arrowhead Pharmaceuticals by 232.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company's stock worth $5,677,000 after purchasing an additional 204,933 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 61.9% in 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 period. 62.61% of the stock is owned by institutional investors and hedge funds.

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.