Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Up 8.6% – Here’s What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s share price traded up 8.6% on Wednesday . The company traded as high as $61.17 and last traded at $61.1190. 569,177 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 3,013,419 shares. The stock had previously closed at $56.27.

Analysts Set New Price Targets

Several research analysts have issued reports on ARWR shares. Bank of America upped their price objective on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Chardan Capital upped their price target on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 10th. The Goldman Sachs Group lifted their price objective on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Arrowhead Pharmaceuticals Stock Up 8.3%

The firm’s 50-day simple moving average is $63.20 and its 200 day simple moving average is $53.12. The company has a market cap of $8.53 billion, a P/E ratio of 39.80 and a beta of 1.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.38 and a current ratio of 3.38.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a return on equity of 35.64% and a net margin of 18.54%.The company had revenue of $264.03 million during the quarter, compared to the consensus estimate of $225.66 million. During the same quarter in the prior year, the business earned ($1.39) earnings per share. The firm’s revenue for the quarter was up 10461.3% on a year-over-year basis. On average, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher Richard Anzalone sold 51,726 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $69.13, for a total transaction of $3,575,818.38. Following the completion of the transaction, the chief executive officer owned 3,805,926 shares in the company, valued at approximately $263,103,664.38. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mauro Ferrari sold 7,530 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $70.00, for a total transaction of $527,100.00. Following the completion of the sale, the director directly owned 69,053 shares of the company’s stock, valued at $4,833,710. The trade was a 9.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 172,100 shares of company stock valued at $11,274,732 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ARWR. Marex Group plc bought a new stake in shares of Arrowhead Pharmaceuticals in the second quarter worth about $576,000. Nordea Investment Management AB lifted its holdings in shares of Arrowhead Pharmaceuticals by 74.5% during the 3rd quarter. Nordea Investment Management AB now owns 372,282 shares of the biotechnology company’s stock valued at $12,661,000 after purchasing an additional 158,937 shares in the last quarter. Marshall Wace LLP grew its position in shares of Arrowhead Pharmaceuticals by 3,507.8% in the 2nd quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock valued at $34,065,000 after purchasing an additional 2,096,238 shares during the period. HBK Sorce Advisory LLC bought a new stake in Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $2,823,000. Finally, Erste Asset Management GmbH increased its stake in Arrowhead Pharmaceuticals by 55.3% during the 3rd quarter. Erste Asset Management GmbH now owns 73,000 shares of the biotechnology company’s stock worth $2,466,000 after purchasing an additional 26,000 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.