Arrowhead Pharmaceuticals (NASDAQ:ARWR) Reaches New 12-Month High – Time to Buy?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $76.85 and last traded at $77.2350, with a volume of 3973 shares changing hands. The stock had previously closed at $76.39.

Wall Street Analyst Weigh In

ARWR has been the topic of several analyst reports. Morgan Stanley raised Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $78.00 to $100.00 in a research note on Tuesday, April 21st. B. Riley Financial increased their target price on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, January 13th. The Goldman Sachs Group increased their target price on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Finally, JPMorgan Chase & Co. initiated coverage on Arrowhead Pharmaceuticals in a research note on Friday. They issued an “overweight” rating and a $88.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $84.20.

Arrowhead Pharmaceuticals Stock Performance

The company has a market cap of $10.54 billion, a price-to-earnings ratio of 49.20 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.38 and a quick ratio of 3.38. The stock has a 50-day moving average price of $63.47 and a 200 day moving average price of $59.52.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, February 5th. The biotechnology company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). The business had revenue of $264.03 million for the quarter, compared to analyst estimates of $225.66 million. Arrowhead Pharmaceuticals had a return on equity of 35.64% and a net margin of 18.54%.The company’s revenue for the quarter was up 10461.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.39) EPS. As a group, analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.37 EPS for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, CFO Daniel Joseph Apel sold 13,095 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total transaction of $934,328.25. Following the sale, the chief financial officer owned 162,905 shares of the company’s stock, valued at $11,623,271.75. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James C. Hamilton sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the sale, the insider directly owned 226,958 shares in the company, valued at approximately $17,021,850. This represents a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 33,095 shares of company stock worth $2,326,228. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ARWR. Arrowstreet Capital Limited Partnership grew its stake in Arrowhead Pharmaceuticals by 3,142.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock valued at $71,797,000 after purchasing an additional 2,017,489 shares in the last quarter. Norges Bank bought a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $113,159,000. Fred Alger Management LLC grew its stake in Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after purchasing an additional 1,526,164 shares in the last quarter. Deerfield Management Company L.P. bought a new position in Arrowhead Pharmaceuticals in the third quarter valued at approximately $34,249,000. Finally, Vestal Point Capital LP bought a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $59,751,000. 62.61% of the stock is currently owned by institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.