Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 52-Week High – Here’s What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) reached a new 52-week high during trading on Monday . The stock traded as high as $86.06 and last traded at $84.8360, with a volume of 213684 shares traded. The stock had previously closed at $83.99.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ARWR. Leerink Partners increased their target price 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 lowered shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 1st. Finally, Sanford C. Bernstein boosted their target price on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.27.

Arrowhead Pharmaceuticals Stock Up 1.9%

The company has a market cap of $12.05 billion, a PE ratio of -39.82 and a beta of 1.26. The company’s 50 day moving average is $76.77 and its 200 day moving average is $68.78. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $0.17. The company had revenue of $73.74 million during the quarter, compared to analysts’ expectations of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The firm’s quarterly revenue was down 86.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.75 EPS. As a group, analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the insider owned 226,958 shares of the company’s stock, valued at $17,021,850. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total value of $934,328.25. Following the transaction, the chief financial officer owned 162,905 shares in the company, valued at $11,623,271.75. The trade was a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 26,065 shares of company stock worth $1,912,662. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Avoro Capital Advisors LLC increased its position in Arrowhead Pharmaceuticals by 2.8% during the 3rd quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock valued at $375,941,000 after purchasing an additional 300,000 shares during the period. Geode Capital Management LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock valued at $216,799,000 after purchasing an additional 133,921 shares in the last quarter. Baker BROS. Advisors LP increased its holdings in Arrowhead Pharmaceuticals by 30.2% during the fourth quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock valued at $144,441,000 after buying an additional 504,883 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Arrowhead Pharmaceuticals by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock worth $138,619,000 after buying an additional 6,264 shares in the last quarter. Finally, Fred Alger Management LLC raised its stake in Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $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.