Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Up 3.2% – Should You Buy?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) rose 3.2% during trading on Wednesday . The company traded as high as $20.34 and last traded at $20.30. Approximately 570,721 shares changed hands during trading, a decline of 48% from the average daily volume of 1,102,783 shares. The stock had previously closed at $19.67.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARWR. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Sanford C. Bernstein lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Piper Sandler dropped their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Stock Performance

The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The firm has a 50-day moving average of $21.03 and a 200 day moving average of $22.56. The stock has a market capitalization of $2.48 billion, a P/E ratio of -3.97 and a beta of 0.97.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 32,729 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $648,688.78. Following the completion of the sale, the insider now owns 272,122 shares in the company, valued at $5,393,458.04. This trade represents a 10.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William D. Waddill sold 3,748 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $21.90, for a total transaction of $82,081.20. Following the completion of the transaction, the director now owns 44,125 shares in the company, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,473 shares of company stock valued at $2,937,847. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Values First Advisors Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals in the third quarter valued at approximately $52,000. Meeder Asset Management Inc. increased its stake in shares of Arrowhead Pharmaceuticals by 4,629.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after buying an additional 3,333 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 788 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at $149,000. Finally, Quarry LP boosted its holdings in Arrowhead Pharmaceuticals by 54.5% in the second quarter. Quarry LP now owns 8,500 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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.