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 Wednesday morning,Benzinga reports. Chardan Capital currently has a $60.00 price objective on the biotechnology company’s stock.

A number of other research firms have also commented on ARWR. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 20th. B. Riley reaffirmed a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.56.

Arrowhead Pharmaceuticals Stock Performance

ARWR stock opened at $26.15 on Wednesday. The stock’s 50 day moving average price is $19.85 and its 200 day moving average price is $23.16. The firm has a market cap of $3.25 billion, a P/E ratio of -5.60 and a beta of 0.93. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $39.83.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of Arrowhead Pharmaceuticals by 9.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,571 shares of the biotechnology company’s stock worth $2,589,000 after purchasing an additional 8,065 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Arrowhead Pharmaceuticals by 17.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 71,136 shares of the biotechnology company’s stock worth $2,035,000 after acquiring an additional 10,568 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Arrowhead Pharmaceuticals by 21.3% in the 1st quarter. Janus Henderson Group PLC now owns 57,449 shares of the biotechnology company’s stock valued at $1,641,000 after acquiring an additional 10,082 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Arrowhead Pharmaceuticals by 14.1% during the 1st quarter. California State Teachers Retirement System now owns 122,486 shares of the biotechnology company’s stock valued at $3,503,000 after acquiring an additional 15,136 shares in the last quarter. Finally, Comerica Bank boosted its position in Arrowhead Pharmaceuticals by 11.2% during the 1st quarter. Comerica Bank now owns 48,312 shares of the biotechnology company’s stock worth $1,382,000 after purchasing an additional 4,855 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

About Arrowhead Pharmaceuticals

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.