Arrowhead Pharmaceuticals (NASDAQ:ARWR) Reaches New 52-Week High - What's Next?

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 $33.00 and last traded at $32.50, with a volume of 2575322 shares traded. The stock had previously closed at $32.05.

Wall Street Analysts Forecast Growth

ARWR has been the topic of a number of research analyst reports. Royal Bank Of Canada decreased their price target on Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. TD Cowen upgraded Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, July 28th. 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. Wall Street Zen cut Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Finally, HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 2nd. Two equities research 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $43.14.

Arrowhead Pharmaceuticals Stock Performance

The stock has a 50-day simple moving average of $21.74 and a 200-day simple moving average of $17.16. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of -25.39 and a beta of 1.00. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.39.

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

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 15,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $30.00, for a total value of $450,000.00. Following the completion of the sale, the insider directly owned 232,122 shares in the company, valued at approximately $6,963,660. The trade was a 6.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 40,000 shares of company stock valued at $1,025,000. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 valued at $168,201,000 after acquiring an additional 1,018,273 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Arrowhead Pharmaceuticals by 138.0% during the 1st 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. Geode Capital Management LLC grew its stake 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 worth $47,067,000 after buying an additional 28,193 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake 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 worth $32,220,000 after buying an additional 21,686 shares during the last quarter. Finally, Marshall Wace LLP grew its stake 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 worth $34,065,000 after buying an additional 2,096,238 shares during the last quarter. 62.61% of the stock is currently owned by 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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