Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 1-Year High - What's Next?

Key Points

• Arrowhead Pharmaceuticals (NASDAQ:ARWR) reached a new 52-week high of $34.16 during trading, with a last traded price of $33.78.
• Analysts have a consensus rating of Buy for the stock, with a price target of $43.14 and two "strong-buy" ratings from multiple firms.
• The company reported a quarterly earnings per share of ($1.26), missing estimates, while revenue for the quarter was $27.77 million, below the projected $29.01 million.

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $34.16 and last traded at $33.78, with a volume of 1791756 shares traded. The stock had previously closed at $32.80.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 2nd. TD Cowen raised shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, July 28th. B. Riley raised shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 11th. Wall Street Zen lowered shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Chardan Capital restated a "buy" rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $43.14.

Arrowhead Pharmaceuticals Stock Up 3.0%

The firm's 50 day simple moving average is $22.99 and its 200 day simple moving average is $17.66. The company has a market cap of $4.67 billion, a price-to-earnings ratio of -26.39 and a beta of 1.00. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.39.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.26) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.32). The company had revenue of $27.77 million for the quarter, compared to analyst estimates of $29.01 million. During the same quarter in the previous year, the company earned ($1.38) EPS. Sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $30.00, for a total transaction of $450,000.00. Following the transaction, the insider owned 232,122 shares in the company, valued at $6,963,660. This trade represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 40,000 shares of company stock worth $1,025,000 in the last quarter. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARWR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Arrowhead Pharmaceuticals by 138.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company's stock worth $60,962,000 after buying an additional 2,774,933 shares during the last quarter. Marshall Wace LLP grew its position in Arrowhead Pharmaceuticals by 3,507.8% in the second quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company's stock worth $34,065,000 after buying an additional 2,096,238 shares during the last quarter. Norges Bank acquired a new position in Arrowhead Pharmaceuticals in the second quarter worth approximately $30,414,000. Vanguard Group Inc. grew its position in Arrowhead Pharmaceuticals by 8.4% in the first quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company's stock worth $168,201,000 after buying an additional 1,018,273 shares during the last quarter. Finally, Aberdeen Group plc grew its position in Arrowhead Pharmaceuticals by 138.4% in the first quarter. Aberdeen Group plc now owns 1,072,827 shares of the biotechnology company's stock worth $13,668,000 after buying an additional 622,752 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company's stock.

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.

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