Chardan Capital Reiterates “Buy” Rating for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reissued by equities researchers at Chardan Capital in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $60.00 target price on the biotechnology company’s stock. Chardan Capital’s price target indicates a potential upside of 223.10% from the stock’s previous close.

Several other research analysts also recently commented on the company. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, January 23rd. Citigroup dropped their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein lowered their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Finally, Piper Sandler lowered their price objective 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, November 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals currently has an average rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Trading Down 1.7 %

Arrowhead Pharmaceuticals stock opened at $18.57 on Tuesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The business’s 50-day simple moving average is $20.14 and its 200-day simple moving average is $21.23. The firm has a market capitalization of $2.32 billion, a PE ratio of -3.70 and a beta of 0.95. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $36.72.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data 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). Equities research analysts forecast that Arrowhead Pharmaceuticals will post -3.4 earnings per share for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, Director William D. Waddill sold 3,748 shares of Arrowhead Pharmaceuticals stock in a transaction 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 transaction, the director now owns 44,125 shares of the company’s stock, valued at $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James C. Hamilton sold 32,729 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $648,688.78. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 147,432 shares of company stock worth $2,957,986 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ARWR. R Squared Ltd acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $38,000. Values First Advisors Inc. acquired a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at about $52,000. Van ECK Associates Corp grew its holdings in shares of Arrowhead Pharmaceuticals by 72.3% during the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 1,250 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after buying an additional 788 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock worth $98,000 after purchasing an additional 1,644 shares during the last quarter. 62.61% of the stock is 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.