Bank of America Issues Positive Forecast for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective hoisted by equities researchers at Bank of America from $62.00 to $81.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Bank of America‘s price target would suggest a potential upside of 16.46% from the stock’s previous close.

ARWR has been the topic of a number of other research reports. The Goldman Sachs Group upped their target price on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, November 20th. Royal Bank Of Canada increased their target price on Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Morgan Stanley boosted their price target on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. Finally, Chardan Capital reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.44.

Arrowhead Pharmaceuticals Trading Up 1.4%

Shares of Arrowhead Pharmaceuticals stock traded up $0.95 on Tuesday, reaching $69.55. The company had a trading volume of 1,433,791 shares, compared to its average volume of 2,122,166. 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 firm’s 50-day moving average price is $42.71 and its two-hundred day moving average price is $28.02. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of -868.04 and a beta of 1.28. Arrowhead Pharmaceuticals has a 1 year low of $9.57 and a 1 year high of $71.50.

Insider Activity at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $35.00, for a total value of $700,000.00. Following the transaction, the insider directly owned 212,122 shares of the company’s stock, valued at approximately $7,424,270. This trade represents a 8.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mauro Ferrari sold 8,750 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $56.39, for a total value of $493,412.50. Following the completion of the sale, the director directly owned 68,764 shares in the company, valued at $3,877,601.96. This represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 43,750 shares of company stock valued at $1,643,413. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in Arrowhead Pharmaceuticals during the 1st quarter valued at about $133,000. Vanguard Group Inc. grew its position in shares of Arrowhead Pharmaceuticals by 8.4% in the first quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company’s stock valued at $168,201,000 after purchasing an additional 1,018,273 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Arrowhead Pharmaceuticals by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,035,290 shares of the biotechnology company’s stock valued at $13,190,000 after purchasing an additional 17,570 shares in the last quarter. Maryland State Retirement & Pension System acquired a new stake in shares of Arrowhead Pharmaceuticals in the first quarter valued at approximately $471,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Arrowhead Pharmaceuticals by 9.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,476 shares of the biotechnology company’s stock worth $184,000 after buying an additional 1,195 shares in the last quarter. 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.