Arrowhead Pharmaceuticals (NASDAQ:ARWR) Sets New 12-Month High - Here's What Happened

Key Points

• Arrowhead Pharmaceuticals reached a new 52-week high at $39.95 before closing at $39.35 during trading.
• Analyst ratings are mixed, with two firms assigning a Strong Buy rating while another downgraded to Hold, leading to an average rating of Moderate Buy with a consensus target price of $43.14.
• Insider trading activity has been noted, with James C. Hamilton selling 20,000 shares, reflecting an 8.62% decrease in their ownership of Arrowhead Pharmaceuticals.

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $39.95 and last traded at $39.35, with a volume of 338819 shares trading hands. The stock had previously closed at $38.19.

Analyst Ratings Changes

ARWR has been the topic of several recent analyst reports. TD Cowen raised Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 28th. Wall Street Zen lowered Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective 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. Finally, B. Riley raised Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.14.

Arrowhead Pharmaceuticals Stock Up 2.5%

The business has a fifty day moving average of $27.82 and a 200 day moving average of $19.38. The firm has a market cap of $5.41 billion, a P/E ratio of -30.71 and a beta of 1.13. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.39.

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

Insider Activity

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 20,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total value of $700,000.00. Following the completion of the sale, the insider directly owned 212,122 shares in the company, valued at $7,424,270. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 60,000 shares of company stock valued at $1,725,000 in the last ninety days. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Large investors have recently modified their holdings of the business. GAMMA Investing LLC increased 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 acquiring an additional 1,628 shares in the last quarter. Virtus Advisers LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the second quarter worth about $34,000. Nisa Investment Advisors LLC increased 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 acquiring an additional 1,308 shares in the last quarter. CWM LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 134.3% in the first quarter. CWM LLC now owns 4,401 shares of the biotechnology company's stock worth $56,000 after acquiring an additional 2,523 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 883.3% during the second quarter. Daiwa Securities Group Inc. now owns 4,189 shares of the biotechnology company's stock worth $66,000 after buying an additional 3,763 shares during the period. 62.61% of the stock is currently owned by 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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