Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 12-Month High – What’s Next?

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. B. Riley Financial boosted their price objective on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. The Goldman Sachs Group raised their target price on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. JPMorgan Chase & Co. assumed coverage on shares of Arrowhead Pharmaceuticals in a report on Friday, May 1st. They issued an “overweight” rating and a $88.00 price target on the stock. Finally, Weiss Ratings raised shares of Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $84.20.

Arrowhead Pharmaceuticals Trading Down 1.5%

The firm has a fifty day simple moving average of $64.30 and a two-hundred day simple moving average of $60.36. The stock has a market cap of $10.92 billion, a PE ratio of 50.95 and a beta of 1.28. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.18. The company had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a return on equity of 35.64% and a net margin of 18.54%.Arrowhead Pharmaceuticals’s revenue was down 86.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.75 earnings per share. As a group, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Daniel Joseph Apel sold 13,095 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at approximately $11,623,271.75. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 completion of the sale, the insider directly owned 226,958 shares in the company, valued at $17,021,850. The trade was a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 33,095 shares of company stock worth $2,326,228. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ARWR. Arrowstreet Capital Limited Partnership lifted 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 worth $71,797,000 after acquiring an additional 2,017,489 shares during the period. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $113,159,000. Fred Alger Management LLC increased its position in shares of Arrowhead Pharmaceuticals by 497.4% during 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 acquiring an additional 1,526,164 shares in the last quarter. Deerfield Management Company L.P. bought a new stake in shares of Arrowhead Pharmaceuticals during the third quarter valued at approximately $34,249,000. Finally, Vestal Point Capital LP purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $59,751,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.