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

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $86.06 and last traded at $84.8360, with a volume of 213684 shares trading hands. The stock had previously closed at $83.99.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARWR. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 1st. Leerink Partners boosted their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 17th. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Royal Bank Of Canada raised their price target on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Sanford C. Bernstein boosted their price objective on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.27.

Arrowhead Pharmaceuticals Trading Up 0.5%

The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. The company’s 50 day moving average is $77.27 and its 200 day moving average is $69.09. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of -40.45 and a beta of 1.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.17. The company had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The business’s quarterly revenue was down 86.4% on a year-over-year basis. During the same period last year, the business posted $2.75 EPS. On average, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3 EPS for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 10,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the sale, the insider owned 226,958 shares of the company’s stock, valued at approximately $17,021,850. This trade represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total value of $934,328.25. Following the sale, the chief financial officer owned 162,905 shares in the company, valued at approximately $11,623,271.75. This represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 26,065 shares of company stock worth $1,912,662 over the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in Arrowhead Pharmaceuticals by 30.2% during the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after purchasing an additional 10,496 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the first quarter worth approximately $514,000. Goldman Sachs Group Inc. lifted its holdings in Arrowhead Pharmaceuticals by 34.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after buying an additional 447,456 shares during the period. Empowered Funds LLC boosted its stake in Arrowhead Pharmaceuticals by 6.9% in the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock valued at $194,000 after acquiring an additional 979 shares during the last quarter. Finally, Focus Partners Wealth boosted its stake in Arrowhead Pharmaceuticals by 1,339.5% in the first quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 15,123 shares during the last quarter. 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.