Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Buy Rating from Chardan Capital

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reiterated by stock analysts at Chardan Capital in a report released on Wednesday,Benzinga reports. They currently have a $60.00 price objective on the biotechnology company’s stock. Chardan Capital’s target price would suggest a potential upside of 185.04% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Piper Sandler reissued an “overweight” rating and set a $62.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, October 8th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, November 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.33.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $21.05 on Wednesday. Arrowhead Pharmaceuticals has a one year low of $17.05 and a one year high of $39.83. The company’s 50-day simple moving average is $19.82 and its 200 day simple moving average is $23.17. The firm has a market capitalization of $2.62 billion, a P/E ratio of -4.51 and a beta of 0.93.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its holdings in Arrowhead Pharmaceuticals by 42.5% during the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 354 shares during the last quarter. World Investment Advisors LLC boosted its position 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 purchasing an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Arrowhead Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 788 shares during the period. Arizona State Retirement System boosted its position in shares of Arrowhead Pharmaceuticals by 2.4% in the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after purchasing an additional 821 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Arrowhead Pharmaceuticals by 1.5% in the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after purchasing an additional 886 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.