Arrowhead Pharmaceuticals (NASDAQ:ARWR) Sets New 1-Year High on Analyst Upgrade

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares hit a new 52-week high during mid-day trading on Monday after Royal Bank Of Canada raised their price target on the stock from $80.00 to $87.00. Royal Bank Of Canada currently has an outperform rating on the stock. Arrowhead Pharmaceuticals traded as high as $80.27 and last traded at $78.1930, with a volume of 782704 shares changing hands. The stock had previously closed at $72.69.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $78.00 to $100.00 in a report on Tuesday, April 21st. B. Riley Financial increased their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, March 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.90.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the transaction, the insider owned 226,958 shares of the company’s stock, valued at approximately $17,021,850. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the sale, the chief financial officer directly owned 162,905 shares in the company, valued at approximately $11,623,271.75. This trade represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last three months, insiders sold 33,095 shares of company stock valued at $2,326,228. Insiders own 3.60% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARWR. Royal Bank of Canada raised its holdings in Arrowhead Pharmaceuticals by 30.2% during the first quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock worth $576,000 after purchasing an additional 10,496 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 1st quarter valued at $514,000. Goldman Sachs Group Inc. increased its holdings in shares of Arrowhead Pharmaceuticals by 34.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after acquiring an additional 447,456 shares during the period. Empowered Funds LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 6.9% in the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock valued at $194,000 after acquiring an additional 979 shares during the period. Finally, Focus Partners Wealth increased its holdings in shares of Arrowhead Pharmaceuticals by 1,339.5% in the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 15,123 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Up 7.7%

The business’s fifty day moving average price is $64.30 and its 200 day moving average price is $60.36. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of -36.41 and a beta of 1.28. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The business had revenue of $73.74 million for the quarter, compared to analysts’ expectations of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The company’s quarterly revenue was down 86.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.75 EPS. On average, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.18 EPS for the current year.

Arrowhead Pharmaceuticals Company Profile

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.