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

Chardan Capital reaffirmed their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note published on Thursday,Benzinga reports. The firm currently has a $60.00 price target on the biotechnology company’s stock.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Sanford C. Bernstein reduced their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Finally, Citigroup reduced their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.70.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $22.14 on Thursday. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The stock’s 50 day moving average is $20.92 and its two-hundred day moving average is $23.17. Arrowhead Pharmaceuticals has a twelve month low of $17.05 and a twelve month high of $39.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARWR. Avoro Capital Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 3.9% during the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after acquiring an additional 333,333 shares in the last quarter. State Street Corp boosted its stake in shares of Arrowhead Pharmaceuticals by 8.8% during the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after buying an additional 516,569 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after buying an additional 26,171 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Arrowhead Pharmaceuticals by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock valued at $28,201,000 after acquiring an additional 30,086 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Arrowhead Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,006,935 shares of the biotechnology company’s stock worth $19,504,000 after acquiring an additional 12,574 shares in the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

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.