Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given Buy Rating at Chardan Capital

Chardan Capital reissued their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note published on Wednesday morning, Benzinga reports. Chardan Capital currently has a $60.00 price objective on the biotechnology company’s stock.

A number of other research analysts also recently commented on ARWR. Cantor Fitzgerald reiterated an overweight rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, June 20th. Morgan Stanley lowered their target price on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an equal weight rating for the company in a research report on Monday, May 13th. HC Wainwright reiterated a buy rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, June 11th. 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 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of Moderate Buy and an average target price of $47.89.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR opened at $26.26 on Wednesday. Arrowhead Pharmaceuticals has a 1 year low of $20.67 and a 1 year high of $39.83. The company has a 50 day simple moving average of $24.28 and a two-hundred day simple moving average of $28.34. The firm has a market cap of $3.26 billion, a P/E ratio of -6.18 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share (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 quarter in the previous year, the business earned $0.45 EPS. The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals will post -3.05 earnings per share for the current year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, Director Victoria Vakiener sold 1,799 shares of the stock in a transaction 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 sale, the director now owns 30,205 shares in the company, valued at $704,078.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ARWR. Washington Trust Advisors Inc. purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $25,000. Neo Ivy Capital Management purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $41,000. Quest Partners LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $45,000. Friedenthal Financial purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $51,000. Finally, Van ECK Associates Corp increased its stake in shares of Arrowhead Pharmaceuticals by 22.9% during the fourth quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock valued at $73,000 after buying an additional 447 shares during the period. Hedge funds and other 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.