Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading 7.5% Higher

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) traded up 7.5% during trading on Monday . The stock traded as high as $24.00 and last traded at $24.00. 399,226 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,471,421 shares. The stock had previously closed at $22.33.

Analysts Set New Price Targets

A number of brokerages have issued reports on ARWR. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, February 8th. Bank of America lifted their target price on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Morgan Stanley boosted their price objective on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 7th. Finally, Citigroup boosted their price objective on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $53.45.

Arrowhead Pharmaceuticals Stock Down 0.6 %

The firm’s 50 day simple moving average is $28.40 and its 200-day simple moving average is $28.92. The company has a market capitalization of $2.95 billion, a PE ratio of -8.55 and a beta of 0.71.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.46). Arrowhead Pharmaceuticals had a negative return on equity of 90.77% and a negative net margin of 163.32%. The business had revenue of $3.55 million for the quarter, compared to analysts’ expectations of $35.60 million. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. Arrowhead Pharmaceuticals’s quarterly revenue was down 94.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 57,499 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $32.35, for a total transaction of $1,860,092.65. Following the completion of the sale, the chief executive officer now directly owns 3,715,048 shares in the company, valued at $120,181,802.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Christopher Richard Anzalone sold 57,499 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $32.35, for a total transaction of $1,860,092.65. Following the transaction, the chief executive officer now directly owns 3,715,048 shares of the company’s stock, valued at $120,181,802.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kenneth Allen Myszkowski sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the transaction, the chief financial officer now directly owns 400,600 shares in the company, valued at $14,097,114. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.

Institutional Trading of Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ARWR. Assenagon Asset Management S.A. grew its position in shares of Arrowhead Pharmaceuticals by 796.9% during the first quarter. Assenagon Asset Management S.A. now owns 344,467 shares of the biotechnology company’s stock worth $9,852,000 after acquiring an additional 306,059 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Arrowhead Pharmaceuticals by 18.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 35,700 shares of the biotechnology company’s stock valued at $1,021,000 after buying an additional 5,600 shares in the last quarter. Wealth Effects LLC grew its position in Arrowhead Pharmaceuticals by 1.6% in the 1st quarter. Wealth Effects LLC now owns 164,460 shares of the biotechnology company’s stock valued at $4,704,000 after buying an additional 2,610 shares in the last quarter. State of Alaska Department of Revenue grew its position in Arrowhead Pharmaceuticals by 16.1% in the 1st quarter. State of Alaska Department of Revenue now owns 13,437 shares of the biotechnology company’s stock valued at $384,000 after buying an additional 1,860 shares in the last quarter. Finally, Myecfo LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 1st quarter valued at about $529,000. 62.61% of the stock is owned by institutional investors and hedge funds.

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.