Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 52-Week High After Analyst Upgrade

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares hit a new 52-week high during mid-day trading on Tuesday after HC Wainwright raised their price target on the stock from $80.00 to $85.00. HC Wainwright currently has a buy rating on the stock. Arrowhead Pharmaceuticals traded as high as $59.27 and last traded at $58.5310, with a volume of 1902187 shares changing hands. The stock had previously closed at $56.25.

Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada lifted their price objective on shares of Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday. Morgan Stanley lifted their target price on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Finally, B. Riley raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.33.

Insiders Place Their Bets

In other news, Director Mauro Ferrari sold 8,750 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, November 28th. The stock was sold at an average price of $56.39, for a total value of $493,412.50. Following the completion of the sale, the director owned 68,764 shares of the company’s stock, valued at $3,877,601.96. The trade was a 11.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James C. Hamilton sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $35.00, for a total value of $700,000.00. Following the completion of the transaction, the insider owned 212,122 shares of the company’s stock, valued at $7,424,270. The trade was a 8.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 43,750 shares of company stock valued at $1,643,413. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. iSAM Funds UK Ltd purchased a new stake in Arrowhead Pharmaceuticals during the third quarter valued at about $29,000. Salomon & Ludwin LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at about $34,000. Federated Hermes Inc. acquired a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at about $52,000. Smartleaf Asset Management LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 2,186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,692 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 1,618 shares during the period. Finally, Virtus Advisers LLC acquired a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $34,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Up 3.8%

The company has a market capitalization of $7.93 billion, a PE ratio of -45.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87. The firm has a 50-day simple moving average of $39.63 and a 200 day simple moving average of $26.34.

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.