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

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

A number of other equities analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Sanford C. Bernstein decreased their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. HC Wainwright upped their price objective on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler dropped their target price on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $21.85 on Thursday. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -4.35 and a beta of 0.91. Arrowhead Pharmaceuticals has a one year low of $17.05 and a one year high of $39.83. The business has a fifty day simple moving average of $20.98 and a 200 day simple moving average of $23.14. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ARWR. SG Americas Securities LLC increased its holdings in Arrowhead Pharmaceuticals by 27.4% during the 2nd quarter. SG Americas Securities LLC now owns 9,369 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 2,014 shares in the last quarter. Fifth Third Bancorp increased its holdings in Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 354 shares in the last quarter. EFG Asset Management North America Corp. increased its holdings in Arrowhead Pharmaceuticals by 86.8% during the 2nd quarter. EFG Asset Management North America Corp. now owns 51,828 shares of the biotechnology company’s stock valued at $1,346,000 after purchasing an additional 24,083 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Arrowhead Pharmaceuticals by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock valued at $28,201,000 after purchasing an additional 30,086 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Arrowhead Pharmaceuticals by 20.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,739 shares of the biotechnology company’s stock valued at $747,000 after purchasing an additional 4,927 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.