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

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reiterated by Chardan Capital in a report issued on Monday,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 237.08% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Royal Bank Of Canada cut their price target on Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Wall Street Zen downgraded Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Citigroup reduced their price target on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Finally, TD Cowen upgraded shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, July 28th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

Arrowhead Pharmaceuticals Trading Up 3.4%

Shares of ARWR opened at $17.80 on Monday. Arrowhead Pharmaceuticals has a 52-week low of $9.57 and a 52-week high of $27.34. The stock has a market cap of $2.46 billion, a PE ratio of -13.91, a price-to-earnings-growth ratio of 25.55 and a beta of 0.94. The firm’s fifty day moving average is $16.52 and its two-hundred day moving average is $15.92. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.39.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.32). The company had revenue of $27.77 million for the quarter, compared to analysts’ expectations of $29.01 million. During the same quarter in the previous year, the firm earned ($1.38) EPS. Research analysts forecast that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Arrowhead Pharmaceuticals by 297.6% in the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,628 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Arrowhead Pharmaceuticals by 75.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,308 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $49,000. CWM LLC boosted its position in shares of Arrowhead Pharmaceuticals by 134.3% during the first quarter. CWM LLC now owns 4,401 shares of the biotechnology company’s stock worth $56,000 after buying an additional 2,523 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Arrowhead Pharmaceuticals by 29.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,335 shares of the biotechnology company’s stock valued at $84,000 after buying an additional 1,214 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other 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.