Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report)'s stock price shot up 9.3% during trading on Wednesday . The company traded as high as $19.21 and last traded at $19.45. 571,818 shares changed hands during trading, a decline of 70% from the average session volume of 1,887,427 shares. The stock had previously closed at $17.80.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on ARWR. Wall Street Zen lowered shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Citigroup reduced their target price on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. TD Cowen upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 28th. B. Riley upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday. Finally, HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $43.14.
Get Our Latest Research Report on ARWR
Arrowhead Pharmaceuticals Trading Up 12.3%
The stock's fifty day simple moving average is $16.52 and its 200-day simple moving average is $15.92. The firm has a market cap of $2.76 billion, a PE ratio of -15.62, a PEG ratio of 25.55 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87.
Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.32). The business had revenue of $27.77 million for the quarter, compared to analyst estimates of $29.01 million. During the same period in the prior year, the company posted ($1.38) earnings per share. On average, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.
Hedge Funds Weigh In On Arrowhead Pharmaceuticals
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtus Advisers LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter worth about $34,000. GAMMA Investing LLC raised its stake in Arrowhead Pharmaceuticals by 297.6% during 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 period. GF Fund Management CO. LTD. purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter worth about $49,000. Nisa Investment Advisors LLC raised its stake in Arrowhead Pharmaceuticals by 75.9% during 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 period. Finally, CWM LLC raised its stake in Arrowhead Pharmaceuticals by 134.3% during the first quarter. CWM LLC now owns 4,401 shares of the biotechnology company's stock worth $56,000 after purchasing an additional 2,523 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.
Arrowhead Pharmaceuticals Company Profile
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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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