B. Riley Raises Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target to $101.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective raised by equities researchers at B. Riley from $61.00 to $101.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. B. Riley’s price target would suggest a potential upside of 47.26% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on ARWR. HC Wainwright boosted their price objective on shares of Arrowhead Pharmaceuticals from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Bank of America upped their target price on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Piper Sandler restated an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a report on Tuesday, January 13th. Finally, Morgan Stanley increased their price objective on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR opened at $68.59 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.86 and a current ratio of 4.86. Arrowhead Pharmaceuticals has a fifty-two week low of $9.57 and a fifty-two week high of $76.76. The firm has a market cap of $9.32 billion, a PE ratio of -856.08 and a beta of 1.21. The business has a 50 day moving average price of $61.33 and a 200-day moving average price of $39.39.

Insider Activity

In other news, Director Michael S. Perry sold 16,250 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $61.03, for a total value of $991,737.50. Following the transaction, the director owned 115,240 shares in the company, valued at approximately $7,033,097.20. This represents a 12.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James C. Hamilton sold 40,164 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $63.11, for a total transaction of $2,534,750.04. Following the sale, the insider directly owned 171,958 shares of the company’s stock, valued at $10,852,269.38. This trade represents a 18.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 510,836 shares of company stock worth $33,603,060. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARWR. Vanguard Group Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock worth $553,077,000 after acquiring an additional 510,798 shares during the period. Avoro Capital Advisors LLC lifted its stake in Arrowhead Pharmaceuticals by 2.8% in the 3rd quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock worth $375,941,000 after purchasing an additional 300,000 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Arrowhead Pharmaceuticals by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,978,505 shares of the biotechnology company’s stock valued at $47,067,000 after acquiring an additional 28,193 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Arrowhead Pharmaceuticals by 3,507.8% in the 2nd quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock worth $34,065,000 after buying an additional 2,096,238 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Arrowhead Pharmaceuticals by 3,142.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock valued at $71,797,000 after acquiring an additional 2,017,489 shares during the last quarter. 62.61% of the stock is owned by institutional investors.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.