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

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a note issued to investors on Tuesday,Benzinga reports. They presently have a $60.00 price objective on the biotechnology company’s stock. Chardan Capital’s target price indicates a potential upside of 201.20% from the company’s previous close.

ARWR has been the topic of a number of other research reports. Piper Sandler decreased their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Citigroup lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Sanford C. Bernstein lowered their price objective on 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. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $19.92 on Tuesday. The firm has a fifty day moving average price of $20.37 and a two-hundred day moving average price of $21.32. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $36.72. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The company has a market cap of $2.49 billion, a PE ratio of -3.97 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). Analysts expect that Arrowhead Pharmaceuticals will post -3.4 EPS for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 32,729 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $648,688.78. Following the sale, the insider now directly owns 272,122 shares of the company’s stock, valued at $5,393,458.04. This represents a 10.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Waddill sold 3,748 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. This represents a 7.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,432 shares of company stock valued at $2,957,986 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. State Street Corp raised its position in shares of Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after acquiring an additional 516,569 shares during the last quarter. Assenagon Asset Management S.A. increased its position in 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 purchasing an additional 204,933 shares during the period. abrdn plc lifted its position in Arrowhead Pharmaceuticals by 61.3% during the 3rd quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock valued at $7,770,000 after purchasing an additional 152,476 shares during the period. Edgestream Partners L.P. bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $2,264,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 941.0% in the 3rd quarter. Fisher Asset Management LLC now owns 122,260 shares of the biotechnology company’s stock valued at $2,368,000 after purchasing an additional 110,516 shares during the last quarter. 62.61% of the stock is currently owned by 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.