Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Given Average Rating of “Moderate Buy” by Brokerages

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $45.33.

Several research analysts recently commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $62.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. B. Riley reiterated a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ARWR. Vanguard Group Inc. increased its stake in Arrowhead Pharmaceuticals by 16.2% in the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after acquiring an additional 1,731,974 shares during the period. Avoro Capital Advisors LLC raised its holdings in shares of 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 buying an additional 333,333 shares in the last quarter. American International Group Inc. lifted its position in shares of Arrowhead Pharmaceuticals by 13.4% during the 1st quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock worth $6,298,000 after buying an additional 26,009 shares during the period. Millennium Management LLC lifted its position 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 worth $13,755,000 after buying an additional 202,280 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Arrowhead Pharmaceuticals in the 3rd quarter valued at $14,420,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Up 12.0 %

Shares of ARWR stock opened at $21.05 on Friday. Arrowhead Pharmaceuticals has a 12 month low of $17.05 and a 12 month high of $39.83. The company has a market cap of $2.62 billion, a PE ratio of -4.51 and a beta of 0.93. The business’s 50 day moving average is $19.82 and its two-hundred day moving average is $23.17.

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.