Arrowhead Pharmaceuticals’ (ARWR) Buy Rating Reaffirmed at Chardan Capital

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reissued by analysts at Chardan Capital in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $115.00 price objective on the biotechnology company’s stock. Chardan Capital’s target price would indicate a potential upside of 100.94% from the company’s current price.

Other analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 17th. Leerink Partners lifted their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, June 17th. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, B. Riley Financial boosted their target price on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.07.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR traded up $1.33 on Thursday, reaching $57.23. The company’s stock had a trading volume of 1,646,955 shares, compared to its average volume of 2,286,674. The stock’s 50-day moving average is $75.53 and its two-hundred day moving average is $75.98. Arrowhead Pharmaceuticals has a 52-week low of $36.73 and a 52-week high of $95.49. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. The stock has a market capitalization of $8.06 billion, a P/E ratio of -25.44 and a beta of 1.29.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%. The business had revenue of $75.25 million for the quarter, compared to analyst estimates of $44.17 million. During the same quarter last year, the company posted ($1.26) EPS. Arrowhead Pharmaceuticals’s quarterly revenue was up 171.0% on a year-over-year basis. As a group, sell-side analysts forecast that Arrowhead Pharmaceuticals will post -3.62 EPS for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the transaction, the director directly owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the sale, the director owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. The trade was a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in ARWR. BlackRock Inc. acquired a new stake in Arrowhead Pharmaceuticals in the second quarter valued at about $1,208,838,000. Jupiter Topco LLC acquired a new stake in Arrowhead Pharmaceuticals in the second quarter valued at about $99,623,000. Renaissance Technologies LLC acquired a new stake in Arrowhead Pharmaceuticals in the first quarter valued at about $64,988,000. Bank of New York Mellon Corp acquired a new stake in Arrowhead Pharmaceuticals in the second quarter valued at about $70,061,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Arrowhead Pharmaceuticals in the second quarter valued at about $50,990,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes using RNA interference (RNAi). The company’s proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi-based therapies to specific tissues and reduce the production of targeted proteins.

Arrowhead’s research and development programs address a range of conditions, including cardiometabolic, pulmonary, liver, and central nervous system diseases.