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

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reaffirmed by research analysts at Chardan Capital in a report released on Thursday,Benzinga reports. They currently have a $60.00 target price on the biotechnology company’s stock. Chardan Capital’s target price indicates a potential upside of 174.60% from the company’s current price.

Several other research analysts have also commented on ARWR. HC Wainwright increased their price target on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada restated an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Citigroup decreased their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Sanford C. Bernstein cut their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.70.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $21.85 on Thursday. The stock has a fifty day moving average price of $20.98 and a 200 day moving average price of $23.15. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $39.83. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of -4.35 and a beta of 0.91.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Fifth Third Bancorp increased its holdings 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 worth $31,000 after purchasing an additional 354 shares during the period. World Investment Advisors LLC increased its stake in Arrowhead Pharmaceuticals by 3.8% during the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after acquiring an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Arrowhead Pharmaceuticals by 21.3% in 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 acquiring an additional 788 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Arrowhead Pharmaceuticals by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after acquiring an additional 821 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Arrowhead Pharmaceuticals by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after purchasing an additional 886 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.