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

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

Several other brokerages have also issued reports on ARWR. Cantor Fitzgerald reissued an overweight rating on shares of Arrowhead Pharmaceuticals in a report on Thursday, June 20th. The Goldman Sachs Group started coverage on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They issued a neutral rating and a $31.00 price target for the company. HC Wainwright reaffirmed a buy rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, June 11th. Finally, Morgan Stanley dropped their target price on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an equal weight rating for the company in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $47.89.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $25.99 on Wednesday. Arrowhead Pharmaceuticals has a 52 week low of $20.67 and a 52 week high of $39.83. The firm has a market capitalization of $3.23 billion, a P/E ratio of -6.12 and a beta of 0.94. The company has a 50-day simple moving average of $24.42 and a 200-day simple moving average of $28.36.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced 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 return on equity of 140.72% and a negative net margin of 163.32%. The business’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, equities analysts forecast that Arrowhead Pharmaceuticals will post -3.05 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, Director Victoria Vakiener sold 1,799 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $41,934.69. Following the transaction, the director now owns 30,205 shares in the company, valued at approximately $704,078.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARWR. O Shaughnessy Asset Management LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at $257,000. Qube Research & Technologies Ltd boosted its holdings in Arrowhead Pharmaceuticals by 98.2% in the third quarter. Qube Research & Technologies Ltd now owns 71,558 shares of the biotechnology company’s stock valued at $1,923,000 after acquiring an additional 35,463 shares during the last quarter. Glenmede Trust Co. NA increased its position in Arrowhead Pharmaceuticals by 68.6% in the third quarter. Glenmede Trust Co. NA now owns 16,905 shares of the biotechnology company’s stock worth $454,000 after purchasing an additional 6,876 shares during the period. Seven Eight Capital LP raised its holdings in Arrowhead Pharmaceuticals by 92.6% during the 3rd quarter. Seven Eight Capital LP now owns 24,474 shares of the biotechnology company’s stock worth $658,000 after purchasing an additional 11,764 shares during the last quarter. Finally, Sectoral Asset Management Inc. raised its holdings in Arrowhead Pharmaceuticals by 9.5% during the 3rd quarter. Sectoral Asset Management Inc. now owns 157,552 shares of the biotechnology company’s stock worth $4,233,000 after purchasing an additional 13,630 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

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.