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

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

Wall Street Analyst Weigh In

ARWR has been the topic of a number of analyst reports. Royal Bank Of Canada upped their target price on shares of Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 10th. The Goldman Sachs Group lifted their price objective on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, January 13th. Finally, B. Riley Financial increased their target price on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Arrowhead Pharmaceuticals Stock Up 8.3%

The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 39.80 and a beta of 1.23. The business’s 50-day moving average is $63.20 and its 200-day moving average is $53.12. 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 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 firm had revenue of $264.03 million during the quarter, compared to analyst estimates of $225.66 million. Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. Arrowhead Pharmaceuticals’s quarterly revenue was up 10461.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.39) earnings per share. On average, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insiders Place Their Bets

In related news, COO Patrick O’brien sold 49,493 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $63.11, for a total transaction of $3,123,503.23. Following the sale, the chief operating officer directly owned 474,908 shares in the company, valued at $29,971,443.88. This represents a 9.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Richard Anzalone sold 51,726 shares of the firm’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $69.13, for a total value of $3,575,818.38. Following the sale, the chief executive officer directly owned 3,805,926 shares of the company’s stock, valued at $263,103,664.38. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 172,100 shares of company stock valued at $11,274,732 over the last quarter. 3.60% of the stock is owned by insiders.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ARWR. Tsfg LLC acquired a new position in Arrowhead Pharmaceuticals during the 4th quarter worth about $25,000. iSAM Funds UK Ltd bought a new position in shares of Arrowhead Pharmaceuticals in the third quarter worth about $29,000. First Horizon Corp bought a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth about $32,000. Virtus Advisers LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the second quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the third quarter worth approximately $34,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.