Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Up 6.2% - Here's Why

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report)'s share price traded up 6.2% during trading on Thursday . The company traded as high as $16.30 and last traded at $16.52. 303,616 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,502,684 shares. The stock had previously closed at $15.56.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. B. Riley reiterated a "buy" rating and set a $38.00 target price (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Citigroup dropped their price target on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Chardan Capital reissued a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $42.13.

Arrowhead Pharmaceuticals Price Performance

The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -3.17 and a beta of 0.89. The company has a fifty day simple moving average of $13.39 and a two-hundred day simple moving average of $17.40. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $2.81. The business had revenue of $542.71 million during the quarter, compared to analysts' expectations of $116.27 million. During the same period in the prior year, the firm earned ($1.02) EPS. As a group, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Activity

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 51,425 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $15.07, for a total transaction of $774,974.75. Following the completion of the sale, the chief executive officer now directly owns 4,062,377 shares in the company, valued at $61,220,021.39. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 275,880 shares of company stock valued at $4,034,037 in the last 90 days. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ARWR. GAMMA Investing LLC raised its position in Arrowhead Pharmaceuticals by 297.6% in the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 1,628 shares during the period. R Squared Ltd purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at about $38,000. GF Fund Management CO. LTD. purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at about $49,000. Van ECK Associates Corp lifted its position in Arrowhead Pharmaceuticals by 72.3% during the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company's stock worth $56,000 after acquiring an additional 1,250 shares in the last quarter. Finally, CWM LLC boosted its holdings in Arrowhead Pharmaceuticals by 134.3% in the 1st quarter. CWM LLC now owns 4,401 shares of the biotechnology company's stock worth $56,000 after acquiring an additional 2,523 shares during the period. Institutional investors and hedge funds own 62.61% of the company's stock.

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.