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

Chardan Capital restated their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $60.00 price objective on the biotechnology company’s stock.

Several other research firms also recently issued reports on ARWR. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, January 23rd. Piper Sandler cut their target price on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Sanford C. Bernstein cut their target price on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Citigroup cut their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $19.11 on Tuesday. The business’s fifty day simple moving average is $20.08 and its 200-day simple moving average is $21.22. The company has a market cap of $2.41 billion, a PE ratio of -3.81 and a beta of 0.95. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $36.72.

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

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, Director Adeoye Y. Olukotun sold 2,850 shares of the stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $20.00, for a total transaction of $57,000.00. Following the sale, the director now directly owns 36,740 shares of the company’s stock, valued at approximately $734,800. This trade represents a 7.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Richard Anzalone sold 26,712 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.24, for a total transaction of $567,362.88. Following the sale, the chief executive officer now directly owns 3,688,335 shares in the company, valued at approximately $78,340,235.40. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,432 shares of company stock valued at $2,957,986. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several hedge funds have recently modified their holdings of ARWR. R Squared Ltd purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $38,000. Values First Advisors Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth about $52,000. Van ECK Associates Corp boosted its stake in shares of Arrowhead Pharmaceuticals by 72.3% during the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 1,250 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 788 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Arrowhead Pharmaceuticals by 45.9% during the 4th quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock worth $98,000 after acquiring an additional 1,644 shares in the last quarter. 62.61% of the stock is 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.