Arrowhead Pharmaceuticals (NASDAQ:ARWR) Coverage Initiated at Bank of America

by · The Markets Daily

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Research analysts at Bank of America assumed coverage on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) in a research report issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $29.00 price target on the biotechnology company’s stock. Bank of America‘s price target would suggest a potential upside of 23.77% from the company’s current price.

Several other analysts also recently commented on the stock. Morgan Stanley reduced their price target on shares of Arrowhead Pharmaceuticals from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, November 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $47.00 price target (down previously from $79.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, August 8th. Citigroup started coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 19th. They issued a “neutral” rating and a $33.00 price target for the company. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, August 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.15.

Check Out Our Latest Report on ARWR

Arrowhead Pharmaceuticals Trading Down 6.0 %

ARWR stock opened at $23.43 on Monday. The company’s 50 day moving average is $26.23 and its two-hundred day moving average is $30.24. The stock has a market cap of $2.52 billion, a P/E ratio of -12.92 and a beta of 0.78. Arrowhead Pharmaceuticals has a twelve month low of $20.67 and a twelve month high of $42.48.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, insider Martin Javier San sold 19,700 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $28.80, for a total transaction of $567,360.00. Following the transaction, the insider now directly owns 131,800 shares of the company’s stock, valued at approximately $3,795,840. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Christopher Richard Anzalone sold 57,755 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $28.12, for a total transaction of $1,624,070.60. Following the transaction, the chief executive officer now directly owns 3,761,338 shares of the company’s stock, valued at approximately $105,768,824.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Martin Javier San sold 19,700 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $28.80, for a total transaction of $567,360.00. Following the completion of the sale, the insider now directly owns 131,800 shares in the company, valued at $3,795,840. The disclosure for this sale can be found here. Insiders have sold a total of 103,343 shares of company stock valued at $2,821,465 in the last ninety days. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ARWR. FMR LLC grew its stake in Arrowhead Pharmaceuticals by 58.2% in the 3rd quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock valued at $115,780,000 after acquiring an additional 1,584,425 shares during the last quarter. Norges Bank acquired a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $60,235,000. State Street Corp grew its position in shares of Arrowhead Pharmaceuticals by 19.2% during the second quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company’s stock worth $196,568,000 after buying an additional 900,791 shares in the last quarter. Nomura Holdings Inc. grew its position in shares of Arrowhead Pharmaceuticals by 4,031.7% during the fourth quarter. Nomura Holdings Inc. now owns 649,548 shares of the biotechnology company’s stock worth $26,302,000 after buying an additional 633,827 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth approximately $18,103,000. 65.98% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Company Profile

(Get Free Report)

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes ARO-AAT, a RNA interference (RNAi) therapeutic candidate that is in phase II clinical trial for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3, which is in phase 2b and one phase 3 clinical trial to treat hypertriglyceridemia; ARO-ANG3 that is in phase 2b clinical trial for the treatment of dyslipidemia; ARO-HSD, which is completed phase 1/2 clinical trial to treat liver diseases; ARO-ENaC2, which is in pre-clinical stage for the treatment of dyslipidemia cystic fibrosis; ARO-C3 that is in phase 1/2a clinical trial to reduce production of complement component 3; ARO-DUX4, which is in pre-clinical stage for the treatment of facioscapulohumeral muscular dystrophy; ARO-XDH that is in phase 1 clinical trial to treat uncontrolled gout; ARO-COV, which is in pre-clinical stage for the treatment of COVID-19; ARO-RAGE, which is in phase 1/2a clinical trial to treat muco-obstructive or inflammatory pulmonary conditions; and ARO-MMP7 that is in phase 1/2a clinical trial for treatment of idiopathic pulmonary fibrosis.

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