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

Key Points

• Arrowhead Pharmaceuticals shares reached a new 52-week high of $31.14, closing at $30.82 with a trading volume of 610,791 shares.
• A mix of analyst ratings reflects cautious optimism; while Wall Street Zen downgraded the stock to "hold," B. Riley upgraded it to "strong buy," with a high price target set at $80.00 by HC Wainwright.
• The company reported a quarterly loss of ($1.26) EPS, missing estimates, and generated revenues of $27.77 million, below the expected $29.01 million.

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as $31.14 and last traded at $30.82, with a volume of 610791 shares trading hands. The stock had previously closed at $29.13.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ARWR shares. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 2nd. Wall Street Zen downgraded shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Chardan Capital reaffirmed a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 11th. Royal Bank Of Canada lowered their target price on shares of Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, B. Riley upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $43.14.

Arrowhead Pharmaceuticals Trading Down 2.6%

The firm's 50-day moving average is $21.17 and its 200 day moving average is $16.95. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of -23.98 and a beta of 1.00.

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

Insider Buying and Selling

In other news, insider James C. Hamilton sold 15,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $30.00, for a total value of $450,000.00. Following the completion of the sale, the insider owned 232,122 shares in the company, valued at $6,963,660. This represents a 6.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 40,000 shares of company stock worth $1,025,000. Insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Virtus Advisers LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the second quarter worth about $34,000. GAMMA Investing LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 297.6% in the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 1,628 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth approximately $49,000. Nisa Investment Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 75.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Arrowhead Pharmaceuticals by 883.3% in the second quarter. Daiwa Securities Group Inc. now owns 4,189 shares of the biotechnology company's stock worth $66,000 after acquiring an additional 3,763 shares during the period. 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.