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

Key Points

• Chardan Capital reiterated its “buy” rating on Arrowhead Pharmaceuticals with a $115 price target, implying approximately 35.4% upside from the stock’s $84.91 opening price.
• Analyst sentiment remains favorable overall: nine analysts rate the stock a Buy, three rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $98.42.
• Arrowhead’s latest quarterly results were mixed: the company reported an adjusted loss of $1.36 per share versus the $1.23 expected, but revenue reached $75.25 million—well above estimates and up 171% year over year.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report)'s stock had its "buy" rating restated by research analysts at Chardan Capital in a report released on Monday,Benzinga reports. They presently have a $115.00 target price on the biotechnology company's stock. Chardan Capital's target price indicates a potential upside of 35.44% from the stock's current price.

Several other research analysts have also recently commented on ARWR. Royal Bank Of Canada increased their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. B. Riley Financial increased their price objective on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. JPMorgan Chase & Co. lifted their target price on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Finally, HC Wainwright increased their price target on Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.42.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $84.91 on Monday. The stock 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 52-week low of $21.61 and a 52-week high of $95.49. The company has a debt-to-equity ratio of 1.77, a quick ratio of 5.90 and a current ratio of 5.90. The business has a 50 day simple moving average of $83.64 and a 200 day simple moving average of $73.62.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.13). The firm had revenue of $75.25 million for the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The firm's quarterly revenue was up 171.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.26) earnings per share. Analysts anticipate that Arrowhead Pharmaceuticals will post -3.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael S. Perry sold 11,600 shares of the business's stock in a transaction dated 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 completion of the sale, the director 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the transaction, the director owned 31,600 shares in the company, 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. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in Arrowhead Pharmaceuticals by 30.2% in the first quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company's stock valued at $576,000 after purchasing an additional 10,496 shares in the last quarter. AQR Capital Management LLC bought a new position in Arrowhead Pharmaceuticals in the 1st quarter valued at approximately $514,000. Goldman Sachs Group Inc. grew its position in Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company's stock worth $22,189,000 after acquiring an additional 447,456 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 6.9% during the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company's stock worth $194,000 after purchasing an additional 979 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in shares of Arrowhead Pharmaceuticals by 1,339.5% in the first quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company's stock valued at $207,000 after buying an additional 15,123 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

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.

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