Arrowhead Pharmaceuticals (NASDAQ:ARWR) Rating Reiterated by Chardan Capital

Chardan Capital restated their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a report issued on Wednesday, Benzinga reports. The firm currently has a $60.00 price target on the biotechnology company’s stock.

ARWR has been the topic of a number of other research reports. Cantor Fitzgerald restated an overweight rating on shares of Arrowhead Pharmaceuticals in a research note on Thursday, June 20th. HC Wainwright restated a buy rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, June 11th. Morgan Stanley dropped their price target on 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. Finally, The Goldman Sachs Group assumed coverage on Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They set a neutral rating and a $31.00 price objective for the company. One 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 company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $47.89.

Arrowhead Pharmaceuticals Stock Performance

ARWR opened at $26.26 on Wednesday. Arrowhead Pharmaceuticals has a one year low of $20.67 and a one year high of $39.83. The company has a market cap of $3.26 billion, a P/E ratio of -6.18 and a beta of 0.94. The business’s 50-day simple moving average is $24.28 and its 200-day simple moving average is $28.34.

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

Insider Activity

In other news, Director Victoria Vakiener sold 1,799 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $41,934.69. Following the completion of the sale, the director now directly owns 30,205 shares of the company’s stock, valued at approximately $704,078.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.50% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $40,451,000. Goldman Sachs Group Inc. increased its stake in Arrowhead Pharmaceuticals by 136.6% in the 4th 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 in the last quarter. Eventide Asset Management LLC purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $9,587,000. Avoro Capital Advisors LLC increased its stake in Arrowhead Pharmaceuticals by 100.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 1,130,000 shares of the biotechnology company’s stock valued at $34,578,000 after purchasing an additional 565,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Arrowhead Pharmaceuticals by 12.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,714 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 952 shares in the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

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.