Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Up 6% – Here’s Why

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) traded up 6% during trading on Thursday . The company traded as high as $20.53 and last traded at $20.90. 978,728 shares were traded during trading, a decline of 32% from the average session volume of 1,446,077 shares. The stock had previously closed at $19.71.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citigroup dropped their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday. Piper Sandler reduced their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, Chardan Capital restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Trading Up 8.8 %

The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The firm’s fifty day moving average price is $20.69 and its 200-day moving average price is $22.07. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -4.27 and a beta of 0.97.

Insider Activity

In other news, insider James C. Hamilton sold 32,729 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $648,688.78. Following the completion of the sale, the insider now directly owns 272,122 shares of the company’s stock, valued at $5,393,458.04. This trade represents a 10.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Waddill sold 3,748 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the transaction, the director now directly owns 44,125 shares in the company, valued at $966,337.50. The trade was a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,473 shares of company stock valued at $2,937,847. Insiders own 4.50% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Arrowhead Pharmaceuticals by 139.1% in the second quarter. Dimensional Fund Advisors LP now owns 145,874 shares of the biotechnology company’s stock worth $3,791,000 after purchasing an additional 84,867 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Arrowhead Pharmaceuticals by 23.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,751 shares of the biotechnology company’s stock valued at $331,000 after buying an additional 2,405 shares during the last quarter. Bank of Montreal Can raised its position in shares of Arrowhead Pharmaceuticals by 240.5% during the second quarter. Bank of Montreal Can now owns 43,699 shares of the biotechnology company’s stock worth $1,202,000 after acquiring an additional 30,866 shares during the last quarter. Squarepoint Ops LLC bought a new position in Arrowhead Pharmaceuticals in the second quarter valued at about $9,976,000. Finally, Deerfield Management Company L.P. Series C bought a new position in Arrowhead Pharmaceuticals in the second quarter valued at about $506,000. Institutional investors own 62.61% of the company’s stock.

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.