Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Up 7.5%

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report)'s stock price traded up 7.5% during mid-day trading on Monday . The company traded as high as $24.00 and last traded at $24.00. 399,226 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,471,421 shares. The stock had previously closed at $22.33.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ARWR. Citigroup upped their price target on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a "neutral" rating in a research report on Wednesday, February 7th. Bank of America upped their price target on Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a "buy" rating in a research report on Tuesday, January 2nd. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, February 8th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $50.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 7th. Finally, Morgan Stanley increased their price objective on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Arrowhead Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $53.45.

Arrowhead Pharmaceuticals Stock Performance

The firm has a market capitalization of $2.96 billion, a P/E ratio of -8.60 and a beta of 0.71. The business has a 50 day simple moving average of $28.53 and a two-hundred day simple moving average of $28.93.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.46). The firm had revenue of $3.55 million for the quarter, compared to the consensus estimate of $35.60 million. Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 90.77%. Arrowhead Pharmaceuticals's revenue for the quarter was down 94.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.39) earnings per share. On average, equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu acquired 1,000 shares of the company's stock in a transaction on Wednesday, March 20th. The stock was acquired at an average price of $27.50 per share, for a total transaction of $27,500.00. Following the acquisition, the director now owns 33,680 shares in the company, valued at approximately $926,200. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Hongbo Lu bought 1,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was bought at an average price of $27.50 per share, for a total transaction of $27,500.00. Following the purchase, the director now directly owns 33,680 shares in the company, valued at approximately $926,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Richard Anzalone sold 57,499 shares of the firm's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $32.35, for a total value of $1,860,092.65. Following the completion of the transaction, the chief executive officer now owns 3,715,048 shares of the company's stock, valued at approximately $120,181,802.80. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its holdings in shares of Arrowhead Pharmaceuticals by 16.1% in the 1st quarter. State of Alaska Department of Revenue now owns 13,437 shares of the biotechnology company's stock worth $384,000 after purchasing an additional 1,860 shares in the last quarter. Myecfo LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 1st quarter worth $529,000. State of Michigan Retirement System increased its holdings in shares of Arrowhead Pharmaceuticals by 18.7% in the 1st quarter. State of Michigan Retirement System now owns 30,470 shares of the biotechnology company's stock worth $871,000 after purchasing an additional 4,800 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 11.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 45,734 shares of the biotechnology company's stock worth $1,308,000 after acquiring an additional 4,523 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the first quarter worth $1,151,000. Hedge funds and other institutional investors own 62.61% of the company's stock.

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.