Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given Buy Rating at Chardan Capital

Arrowhead Pharmaceuticals (NASDAQ:ARWR)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a research report issued on Monday,Benzinga reports. They currently have a $115.00 target price on the biotechnology company’s stock. Chardan Capital’s price objective suggests a potential upside of 35.44% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Piper Sandler restated an “overweight” rating and set a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Leerink Partners raised their price objective on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 17th. Finally, Morgan Stanley upped their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $98.42.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $84.91 on Monday. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of -37.74 and a beta of 1.27. Arrowhead Pharmaceuticals has a one year low of $21.61 and a one year 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’s 50-day moving average is $83.64 and its 200 day moving average is $73.62.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly 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). The company had revenue of $75.25 million during the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The company’s revenue for the quarter was up 171.0% on a year-over-year basis. During the same period last year, the firm posted ($1.26) earnings per share. Equities research analysts anticipate that Arrowhead Pharmaceuticals will post -3.51 EPS for the current year.

Insider Activity

In other news, Director Michael S. Perry sold 11,600 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the transaction, the director owned 111,459 shares of the company’s stock, valued at $9,730,370.70. This represents a 9.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the transaction, the director owned 31,600 shares of the company’s stock, valued at $2,747,936. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ARWR. BlackRock Inc. bought a new position in Arrowhead Pharmaceuticals during the second quarter worth about $1,208,838,000. California State Teachers Retirement System raised its position in shares of Arrowhead Pharmaceuticals by 7,797.6% in the second quarter. California State Teachers Retirement System now owns 11,397,217 shares of the biotechnology company’s stock valued at $928,987,000 after purchasing an additional 11,252,904 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Arrowhead Pharmaceuticals by 3,142.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock valued at $71,797,000 after purchasing an additional 2,017,489 shares during the period. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at approximately $113,159,000. Finally, Fred Alger Management LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 497.4% during the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after buying an additional 1,526,164 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.