Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 52-Week High - Still a Buy?

Key Points

• Arrowhead Pharmaceuticals' stock reached a new 52-week high of $27.48 during mid-day trading, currently trading at $27.11.
• Analysts have mixed views on the stock, with Chardan Capital maintaining a "buy" rating and a target price of $60.00, while Wall Street Zen downgraded it to a "hold" rating.
• The company reported a loss of $1.26 EPS for the last quarter, falling short of the estimated loss of $0.94, highlighting ongoing financial challenges.

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.48 and last traded at $27.11, with a volume of 1102513 shares trading hands. The stock had previously closed at $25.68.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Chardan Capital reiterated a "buy" rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. TD Cowen raised shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research report on Monday, July 28th. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. Wall Street Zen downgraded shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada dropped their price target on shares of Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $43.14.

Arrowhead Pharmaceuticals Price Performance

The company has a market capitalization of $3.78 billion, a P/E ratio of -21.33 and a beta of 1.00. The firm's fifty day moving average is $18.03 and its 200 day moving average is $16.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.87 and a current ratio of 4.87.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The company had revenue of $27.77 million for the quarter, compared to the consensus estimate of $29.01 million. During the same quarter last year, the firm earned ($1.38) EPS. As a group, analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 9,389 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $20.00, for a total value of $187,780.00. Following the completion of the sale, the insider directly owned 262,122 shares of the company's stock, valued at $5,242,440. The trade was a 3.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Arrowhead Pharmaceuticals by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company's stock worth $168,201,000 after purchasing an additional 1,018,273 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Arrowhead Pharmaceuticals by 138.0% during 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 period. Geode Capital Management LLC boosted its position in Arrowhead Pharmaceuticals by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,978,505 shares of the biotechnology company's stock valued at $47,067,000 after acquiring an additional 28,193 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Arrowhead Pharmaceuticals by 0.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,528,982 shares of the biotechnology company's stock valued at $32,220,000 after acquiring an additional 21,686 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Arrowhead Pharmaceuticals by 3,507.8% during the 2nd quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company's stock valued at $34,065,000 after acquiring an additional 2,096,238 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 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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