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

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

ARWR has been the subject of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Piper Sandler reiterated an “overweight” rating and set a $62.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. B. Riley reissued a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $21.05 on Wednesday. The firm has a fifty day moving average price of $19.82 and a 200 day moving average price of $23.17. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $39.83. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -4.51 and a beta of 0.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. World Investment Advisors LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 3.8% in the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 700 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after buying an additional 26,171 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at about $345,000. Wellington Management Group LLP boosted its stake in Arrowhead Pharmaceuticals by 1.5% in the 3rd 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 in the last quarter. Finally, State Street Corp boosted its stake in Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after purchasing an additional 516,569 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

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.