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

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

A number of other brokerages also recently issued reports on ARWR. Morgan Stanley lowered their price target on 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. StockNews.com raised Arrowhead Pharmaceuticals to a sell rating in a research note on Tuesday. Cantor Fitzgerald reissued an overweight rating on shares of Arrowhead Pharmaceuticals in a research note on Thursday, June 20th. HC Wainwright reissued a buy rating and issued a $60.00 price target (down previously from $90.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, July 5th. Finally, The Goldman Sachs Group began coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They set a neutral rating and a $31.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $44.56.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $28.30 on Wednesday. The company has a 50 day moving average price of $25.40 and a 200-day moving average price of $28.10. Arrowhead Pharmaceuticals has a 1-year low of $20.67 and a 1-year high of $39.83. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -6.66 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share 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 firm posted $0.45 earnings per share. Arrowhead Pharmaceuticals’s revenue was down 100.0% on a year-over-year basis. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals will post -3.04 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider Tracie Oliver sold 9,394 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the sale, the insider now owns 127,107 shares in the company, valued at approximately $3,213,264.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Arrowhead Pharmaceuticals news, insider Tracie Oliver sold 9,394 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total transaction of $237,480.32. Following the transaction, the insider now owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Victoria Vakiener sold 1,799 shares of Arrowhead Pharmaceuticals 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 transaction, the director now owns 30,205 shares in the company, valued at approximately $704,078.55. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds have recently made changes to their positions in ARWR. Washington Trust Advisors Inc. purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth approximately $25,000. Neo Ivy Capital Management purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $41,000. Quest Partners LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at $45,000. Friedenthal Financial purchased a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at $51,000. Finally, Van ECK Associates Corp lifted its stake in 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 acquiring an additional 447 shares in 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.