Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Up 17.4% – What’s Next?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price traded up 17.4% during mid-day trading on Wednesday . The company traded as high as $11.46 and last traded at $11.73. 1,779,032 shares changed hands during mid-day trading, an increase of 29% from the average session volume of 1,382,867 shares. The stock had previously closed at $9.99.

Analysts Set New Price Targets

ARWR has been the subject of a number of analyst reports. Chardan Capital restated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Finally, B. Riley reissued a “buy” rating and set a $38.00 price target (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.44.

Arrowhead Pharmaceuticals Stock Up 18.1 %

The firm has a 50 day simple moving average of $16.71 and a two-hundred day simple moving average of $19.08. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The stock has a market capitalization of $1.62 billion, a P/E ratio of -2.28 and a beta of 0.99.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.97). On average, equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 133,333 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $17.02, for a total transaction of $2,269,327.66. Following the completion of the transaction, the chief executive officer now owns 3,773,802 shares in the company, valued at approximately $64,230,110.04. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 185,717 shares of company stock worth $3,064,441 over the last three months. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ARWR. R Squared Ltd acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $38,000. GF Fund Management CO. LTD. acquired a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $49,000. Van ECK Associates Corp boosted its holdings in shares of 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 buying an additional 1,250 shares in the last quarter. KBC Group NV grew its position in shares of Arrowhead Pharmaceuticals by 45.9% during the 4th quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock worth $98,000 after buying an additional 1,644 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at $137,000. Institutional investors and hedge funds 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.