Arrowhead Pharmaceuticals’ (ARWR) Buy Rating Reaffirmed at Chardan Capital

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating restated by research analysts at Chardan Capital in a research report issued on Friday, Benzinga reports. They presently have a $60.00 target price on the biotechnology company’s stock. Chardan Capital’s price objective would suggest a potential upside of 172.48% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 7th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, February 8th. Citigroup lifted their price objective on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley lifted their price objective on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.80.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR traded down $2.70 during mid-day trading on Friday, hitting $22.02. The company had a trading volume of 974,573 shares, compared to its average volume of 1,381,667. The firm has a fifty day moving average price of $26.78 and a 200 day moving average price of $28.69. The company has a market capitalization of $2.73 billion, a PE ratio of -8.02 and a beta of 0.78. Arrowhead Pharmaceuticals has a one year low of $20.67 and a one year high of $40.89.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 90.77%. The business’s revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. Research analysts expect that Arrowhead Pharmaceuticals will post -2.7 earnings per share for the current fiscal year.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu acquired 1,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was bought at an average price of $27.49 per share, with a total value of $27,490.00. Following the purchase, the director now owns 31,680 shares of the company’s stock, valued at $870,883.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arrowhead Pharmaceuticals news, Director Victoria Vakiener sold 1,799 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $41,934.69. Following the completion of the sale, the director now owns 30,205 shares of the company’s stock, valued at approximately $704,078.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hongbo Lu purchased 1,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were purchased at an average cost of $27.49 per share, with a total value of $27,490.00. Following the transaction, the director now directly owns 31,680 shares in the company, valued at $870,883.20. The disclosure for this purchase can be found here. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $25,000. Fifth Third Bancorp increased its stake in shares of Arrowhead Pharmaceuticals by 112.0% in the 3rd quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 522 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $41,000. Quest Partners LLC bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $45,000. Finally, Friedenthal Financial bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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.