Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) to a sell rating in a research report released on Wednesday morning.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Piper Sandler lowered their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday. B. Riley reiterated a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Chardan Capital restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.56.

Arrowhead Pharmaceuticals Stock Up 24.2 %

Shares of NASDAQ ARWR opened at $26.15 on Wednesday. The firm’s fifty day moving average is $19.85 and its 200 day moving average is $23.16. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $39.83. The company has a market cap of $3.25 billion, a price-to-earnings ratio of -5.60 and a beta of 0.93.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position 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 worth $123,083,000 after purchasing an additional 516,569 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Arrowhead Pharmaceuticals in the second quarter worth $9,976,000. Avoro Capital Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after acquiring an additional 333,333 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Arrowhead Pharmaceuticals by 232.5% in the third quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after acquiring an additional 204,933 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 61.9% during the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after acquiring an additional 202,280 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.