Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 52-Week High After Analyst Upgrade

Shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) hit a new 52-week high during mid-day trading on Wednesday after Chardan Capital raised their price target on the stock from $32.00 to $45.00. Chardan Capital currently has a buy rating on the stock. Arrowhead Pharmaceuticals traded as high as $39.25 and last traded at $38.97, with a volume of 2035769 shares traded. The stock had previously closed at $36.50.

ARWR has been the subject of a number of other reports. ValuEngine downgraded Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Cantor Fitzgerald reissued a “neutral” rating on shares of Arrowhead Pharmaceuticals in a research note on Thursday, October 17th. BidaskClub raised Arrowhead Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. B. Riley increased their target price on Arrowhead Pharmaceuticals from $32.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, Piper Jaffray Companies increased their target price on Arrowhead Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Sunday, October 20th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $41.60.

In related news, Director Michael S. Perry sold 85,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $30.00, for a total value of $2,550,000.00. Following the completion of the transaction, the director now directly owns 121,000 shares of the company’s stock, valued at approximately $3,630,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Richard Anzalone sold 66,645 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $28.20, for a total value of $1,879,389.00. Following the completion of the transaction, the chief executive officer now directly owns 2,146,153 shares of the company’s stock, valued at $60,521,514.60. The disclosure for this sale can be found here. Insiders sold a total of 312,220 shares of company stock valued at $9,235,464 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARWR. Nisa Investment Advisors LLC increased its stake in Arrowhead Pharmaceuticals by 96.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 500 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter worth $34,000. Acadian Asset Management LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter worth $34,000. Mascoma Wealth Management LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter worth $46,000. Finally, Pearl River Capital LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter worth $111,000. 72.00% of the stock is owned by hedge funds and other institutional investors.

The firm has a 50-day simple moving average of $31.28 and a two-hundred day simple moving average of $26.89. The company has a market cap of $3.70 billion, a PE ratio of -56.72 and a beta of 1.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.13). The company had revenue of $42.70 million for the quarter, compared to analysts’ expectations of $59.05 million. Arrowhead Pharmaceuticals had a return on equity of 26.27% and a net margin of 33.28%. As a group, analysts forecast that Arrowhead Pharmaceuticals Inc will post 0.75 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals Company Profile (NASDAQ:ARWR)

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.

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