Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Up – Time to Buy?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares gapped up prior to trading on Wednesday . The stock had previously closed at $21.05, but opened at $22.30. Arrowhead Pharmaceuticals shares last traded at $22.30, with a volume of 21,374 shares traded.

Analyst Upgrades and Downgrades

ARWR has been the topic of a number of recent research reports. B. Riley reaffirmed a “buy” rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. Piper Sandler decreased their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $42.56.

Arrowhead Pharmaceuticals Price Performance

The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -5.06 and a beta of 0.93. The business has a fifty day moving average price of $19.85 and a two-hundred day moving average price of $23.16.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ARWR. World Investment Advisors LLC increased its stake in shares of Arrowhead Pharmaceuticals by 3.8% in the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock worth $371,000 after acquiring an additional 700 shares during the period. Geode Capital Management LLC boosted its holdings in Arrowhead Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after purchasing an additional 26,171 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Arrowhead Pharmaceuticals during the 3rd quarter worth about $345,000. Wellington Management Group LLP raised its stake in shares of Arrowhead Pharmaceuticals by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after buying an additional 886 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after buying an additional 516,569 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.