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

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report)'s stock had its "buy" rating restated by Chardan Capital in a research note issued on Wednesday,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 130.15% from the stock's current price.

ARWR has been the subject of a number of other reports. 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. Piper Sandler reiterated an "overweight" rating and set a $62.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. HC Wainwright reaffirmed a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Finally, StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a "sell" rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $42.56.

Arrowhead Pharmaceuticals Stock Up 23.8 %

NASDAQ:ARWR traded up $5.02 during trading hours on Wednesday, hitting $26.07. 5,516,921 shares of the stock were exchanged, compared to its average volume of 1,245,989. The company has a market capitalization of $3.24 billion, a P/E ratio of -5.06 and a beta of 0.93. The company's 50 day moving average is $19.85 and its two-hundred day moving average is $23.16. Arrowhead Pharmaceuticals has a twelve month low of $17.05 and a twelve month high of $39.83.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in shares of Arrowhead Pharmaceuticals by 9.4% in the third quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company's stock valued at $373,000 after acquiring an additional 1,658 shares during the last quarter. World Investment Advisors LLC increased its position in shares of Arrowhead Pharmaceuticals by 3.8% during the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company's stock worth $371,000 after purchasing an additional 700 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company's stock worth $57,426,000 after purchasing an additional 26,171 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at approximately $345,000. Finally, Wellington Management Group LLP grew its stake in shares of Arrowhead Pharmaceuticals by 1.5% in the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company's stock valued at $1,199,000 after buying an additional 886 shares in the last quarter. 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.