Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading 6% Higher – Here’s Why

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) was up 6% during mid-day trading on Thursday . The company traded as high as $20.53 and last traded at $20.90. Approximately 978,728 shares changed hands during trading, a decline of 32% from the average daily volume of 1,446,077 shares. The stock had previously closed at $19.71.

Analysts Set New Price Targets

A number of brokerages have commented on ARWR. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday. Sanford C. Bernstein decreased their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Piper Sandler reduced their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $43.33.

Arrowhead Pharmaceuticals Trading Down 3.6 %

The company has a market cap of $2.58 billion, a PE ratio of -4.14 and a beta of 0.97. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. The company has a fifty day simple moving average of $20.73 and a two-hundred day simple moving average of $22.04.

Insiders Place Their Bets

In other news, CEO Christopher Richard Anzalone sold 11,520 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total value of $219,456.00. Following the completion of the sale, the chief executive officer now directly owns 3,764,252 shares of the company’s stock, valued at approximately $71,709,000.60. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James C. Hamilton sold 32,729 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $648,688.78. Following the sale, the insider now owns 272,122 shares of the company’s stock, valued at $5,393,458.04. This trade represents a 10.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,473 shares of company stock worth $2,937,847 in the last 90 days. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently modified their holdings of ARWR. R Squared Ltd purchased a new position in Arrowhead Pharmaceuticals in the fourth quarter worth $38,000. Values First Advisors Inc. acquired a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Arrowhead Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 788 shares during the last quarter. KBC Group NV boosted its stake in shares of Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 1,644 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Arrowhead Pharmaceuticals in the 3rd quarter valued at about $149,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.