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

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a note issued to investors on Monday,Benzinga reports. They currently have a $60.00 target price on the biotechnology company’s stock. Chardan Capital’s price objective indicates a potential upside of 3.54% from the stock’s previous close.

Several other research firms also recently commented on ARWR. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. Piper Sandler increased their target price on shares of Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price target on shares of Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Finally, The Goldman Sachs Group raised their price objective on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.33.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $57.95 on Monday. The stock’s 50-day moving average is $40.14 and its 200 day moving average is $26.63. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of -724.28 and a beta of 1.28. Arrowhead Pharmaceuticals has a 1-year low of $9.57 and a 1-year high of $59.27. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.43.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 20,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $35.00, for a total transaction of $700,000.00. Following the transaction, the insider directly owned 212,122 shares of the company’s stock, valued at approximately $7,424,270. The trade was a 8.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mauro Ferrari sold 8,750 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $56.39, for a total transaction of $493,412.50. Following the completion of the transaction, the director owned 68,764 shares of the company’s stock, valued at $3,877,601.96. This trade represents a 11.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 43,750 shares of company stock worth $1,643,413 over the last three months. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Arrowhead Pharmaceuticals during the 1st quarter valued at approximately $174,000. XTX Topco Ltd purchased a new position in shares of Arrowhead Pharmaceuticals in the 1st quarter valued at approximately $133,000. Vanguard Group Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 8.4% during the first quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company’s stock valued at $168,201,000 after purchasing an additional 1,018,273 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Arrowhead Pharmaceuticals by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,035,290 shares of the biotechnology company’s stock worth $13,190,000 after purchasing an additional 17,570 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Arrowhead Pharmaceuticals in the first quarter worth $583,000. 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.