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

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a research report issued on Wednesday,Benzinga reports. They presently have a $60.00 price objective on the biotechnology company’s stock. Chardan Capital’s price target indicates a potential upside of 129.45% from the company’s current price.

ARWR has been the topic of a number of other research reports. B. Riley reaffirmed a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.56.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $26.15 on Wednesday. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83. The stock has a market capitalization of $3.25 billion, a P/E ratio of -5.60 and a beta of 0.93. The business has a fifty day moving average price of $19.95 and a 200-day moving average price of $23.18.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in shares of 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 during the period. Values First Advisors Inc. purchased a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at about $52,000. Meeder Asset Management Inc. boosted its stake in shares of Arrowhead Pharmaceuticals by 4,629.2% in the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 3,333 shares during the period. nVerses Capital LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth about $96,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 788 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.