Arrowhead Pharmaceuticals (NASDAQ:ARWR) Reaches New 12-Month High - Still a Buy?

Key Points

• Arrowhead Pharmaceuticals shares reached a new 52-week high of $39.32, closing at $38.59, with significant trading volume of 701,513 shares.
• Analysts have mixed opinions on the stock, with two firms rating it as a Strong Buy, while one downgraded it to a Hold, leading to a consensus rating of "Moderate Buy" and an average price target of $43.14.
• Despite a surge in stock price, the company reported a larger-than-expected loss of ($1.26) earnings per share for the recent quarter, missing consensus estimates and revenue expectations.

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $39.32 and last traded at $38.59, with a volume of 701513 shares traded. The stock had previously closed at $36.12.

Analysts Set New Price Targets

Several research firms have recently commented on ARWR. Wall Street Zen cut 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 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. B. Riley raised Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Arrowhead Pharmaceuticals in a research note on Saturday, September 27th. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $43.14.

Arrowhead Pharmaceuticals Trading Up 3.7%

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 business's 50-day simple moving average is $24.54 and its two-hundred day simple moving average is $18.21. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of -29.30 and a beta of 1.13.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share 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 analyst estimates of $29.01 million. During the same quarter last year, the firm earned ($1.38) EPS. On average, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total transaction of $700,000.00. Following the transaction, the insider directly owned 212,122 shares of the company's stock, valued at approximately $7,424,270. The trade was a 8.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 60,000 shares of company stock worth $1,725,000. Company insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Arrowhead Pharmaceuticals by 4,965.8% in the 1st quarter. GAMMA Investing LLC now owns 27,710 shares of the biotechnology company's stock worth $3,530,000 after buying an additional 27,163 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 5.2% in the first quarter. Yousif Capital Management LLC now owns 47,347 shares of the biotechnology company's stock worth $603,000 after acquiring an additional 2,353 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the first quarter worth about $871,000. Pinion Investment Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 100.0% in the first quarter. Pinion Investment Advisors LLC now owns 150,000 shares of the biotechnology company's stock valued at $1,911,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Arrowhead Pharmaceuticals by 31.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 49,247 shares of the biotechnology company's stock valued at $627,000 after purchasing an additional 11,879 shares in the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

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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