Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given “Buy” Rating at Chardan Capital

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a research note issued to investors on Wednesday, 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 133.55% from the company’s current price.

Several other research firms have also recently issued reports on ARWR. Morgan Stanley lowered their target price on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. The Goldman Sachs Group began coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, June 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.89.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $25.69 on Wednesday. Arrowhead Pharmaceuticals has a one year low of $20.67 and a one year high of $39.83. The company’s 50-day moving average is $24.35 and its 200 day moving average is $28.32. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -6.04 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share (EPS) 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 140.72%. The company’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS. As a group, research analysts predict that Arrowhead Pharmaceuticals will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Victoria Vakiener sold 1,799 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $41,934.69. Following the sale, the director now owns 30,205 shares of the company’s stock, valued at approximately $704,078.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ARWR. Norges Bank acquired a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $40,451,000. Goldman Sachs Group Inc. boosted its holdings in Arrowhead Pharmaceuticals by 136.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock valued at $32,496,000 after purchasing an additional 613,067 shares during the last quarter. Eventide Asset Management LLC bought a new position in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $9,587,000. Avoro Capital Advisors LLC lifted its holdings in Arrowhead Pharmaceuticals by 100.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,130,000 shares of the biotechnology company’s stock worth $34,578,000 after buying an additional 565,000 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Arrowhead Pharmaceuticals by 12.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,714 shares of the biotechnology company’s stock worth $279,000 after buying an additional 952 shares during the last quarter. 62.61% of the stock is currently 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.