Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Raised to $100.00 at Piper Sandler

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective increased by Piper Sandler from $70.00 to $100.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target would suggest a potential upside of 54.66% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Chardan Capital reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, December 1st. The Goldman Sachs Group increased their target price on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, November 20th. Morgan Stanley lifted their price target on shares of Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 26th. Royal Bank Of Canada upped their price objective on shares of Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Finally, Bank of America lifted their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $61.89.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $64.66 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86. The company’s 50-day moving average is $46.66 and its 200-day moving average is $30.26. The stock has a market capitalization of $8.79 billion, a PE ratio of -808.15 and a beta of 1.28. Arrowhead Pharmaceuticals has a 1 year low of $9.57 and a 1 year high of $72.36.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Mauro Ferrari sold 8,750 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $56.39, for a total transaction of $493,412.50. Following the transaction, the director directly owned 68,764 shares in the company, valued at approximately $3,877,601.96. This trade represents a 11.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Richard Anzalone sold 54,298 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $62.58, for a total transaction of $3,397,968.84. Following the transaction, the chief executive officer directly owned 3,916,957 shares in the company, valued at $245,123,169.06. This represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 229,298 shares of company stock valued at $14,533,619. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Marex Group plc purchased a new position in Arrowhead Pharmaceuticals in the second quarter valued at about $576,000. Marshall Wace LLP increased its stake in shares of Arrowhead Pharmaceuticals by 3,507.8% during the 2nd quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock worth $34,065,000 after purchasing an additional 2,096,238 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $213,000. Norges Bank purchased a new position in Arrowhead Pharmaceuticals in the second quarter valued at approximately $30,414,000. Finally, CWM LLC grew its holdings in Arrowhead Pharmaceuticals by 159.4% during the second quarter. CWM LLC now owns 11,415 shares of the biotechnology company’s stock valued at $180,000 after purchasing an additional 7,014 shares during the period. 62.61% of the stock is owned by 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.