Arrowhead Pharmaceuticals (NASDAQ:ARWR) Reaches New 12-Month High - Time to Buy?

Key Points

• Stock reached a new 52-week high, last trading around $77.24 with a market cap of about $10.54 billion and 50/200-day moving averages ($63.47/$59.52) pointing to an uptrend.
• Wall Street is largely positive on Arrowhead—MarketBeat shows an average rating of "Moderate Buy" and an average target of $84.20, with several firms raising targets (e.g., Piper Sandler $110, B. Riley $101, HC Wainwright $100).
• Quarterly results showed a revenue beat ($264.03M vs. $225.66M estimate) but an EPS miss ($0.22 vs. $0.60), and insiders sold ~33,095 shares (~$2.33M) recently under pre-arranged 10b5-1 plans.

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as $76.85 and last traded at $77.2350, with a volume of 3973 shares trading hands. The stock had previously closed at $76.39.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler reiterated an "overweight" rating and issued a $110.00 price target (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. B. Riley Financial upped their price target on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Weiss Ratings upgraded Arrowhead Pharmaceuticals from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Friday, February 6th. The Goldman Sachs Group upped their price target on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 7th. Finally, HC Wainwright restated a "buy" rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $84.20.

Arrowhead Pharmaceuticals Stock Down 1.5%

The firm has a fifty day moving average price of $63.47 and a 200 day moving average price of $59.52. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.29. The company has a market cap of $10.54 billion, a P/E ratio of 49.20 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.38). The business had revenue of $264.03 million for the quarter, compared to the consensus estimate of $225.66 million. Arrowhead Pharmaceuticals had a return on equity of 35.64% and a net margin of 18.54%.Arrowhead Pharmaceuticals's revenue for the quarter was up 10461.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.39) EPS. Equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.37 earnings per share for the current year.

Insider Activity

In related news, insider James C. Hamilton sold 10,000 shares of the firm's stock in a transaction dated 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 in the company, valued at $17,021,850. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total value of $934,328.25. Following the completion of the transaction, the chief financial officer owned 162,905 shares in the company, valued at approximately $11,623,271.75. This represents a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders sold 33,095 shares of company stock worth $2,326,228. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Tsfg LLC bought a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at about $25,000. First Horizon Corp bought a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at about $32,000. WPG Advisers LLC boosted its holdings in Arrowhead Pharmaceuticals by 384.8% in the fourth quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company's stock valued at $36,000 after acquiring an additional 431 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Arrowhead Pharmaceuticals by 177.1% in the fourth quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company's stock valued at $49,000 after buying an additional 471 shares during the period. Finally, Elyxium Wealth LLC acquired a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at about $54,000. Institutional investors own 62.61% of the company's stock.

About Arrowhead Pharmaceuticals

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.

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