Arrowhead Pharmaceuticals (NASDAQ:ARWR) Earns Buy Rating from Chardan Capital

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

ARWR has been the topic of a number of other research reports. Citigroup upped their price target on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a neutral rating in a research report on Wednesday, February 7th. Royal Bank of Canada reissued an outperform rating and set a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 7th. Morgan Stanley cut their price objective on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an equal weight rating on the stock in a research report on Monday, May 13th. Finally, HC Wainwright reissued a buy rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $47.89.

Arrowhead Pharmaceuticals Trading Down 0.2 %

Shares of ARWR opened at $25.24 on Monday. The stock has a market capitalization of $3.13 billion, a P/E ratio of -5.94 and a beta of 0.94. The firm’s fifty day simple moving average is $24.56 and its two-hundred day simple moving average is $28.49. Arrowhead Pharmaceuticals has a 12 month low of $20.67 and a 12 month high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results 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%. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS. As a group, research analysts predict that Arrowhead Pharmaceuticals will post -3.05 EPS for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average price of $27.49 per share, with a total value of $27,490.00. Following the transaction, the director now owns 31,680 shares in the company, valued at $870,883.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Arrowhead Pharmaceuticals news, Director Hongbo Lu purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average price of $27.49 per share, with a total value of $27,490.00. Following the transaction, the director now owns 31,680 shares in the company, valued at $870,883.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Victoria Vakiener sold 1,799 shares of the 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 completion of the sale, the director now owns 30,205 shares of the company’s stock, valued at approximately $704,078.55. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $25,000. Neo Ivy Capital Management purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $41,000. Quest Partners LLC purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $45,000. Friedenthal Financial purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth approximately $51,000. Finally, Van ECK Associates Corp increased its stake in shares of Arrowhead Pharmaceuticals by 22.9% during the 4th quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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.