Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 1-Year High – Still a Buy?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $34.16 and last traded at $33.78, with a volume of 1791756 shares traded. The stock had previously closed at $32.80.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARWR. B. Riley upgraded shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 11th. Wall Street Zen cut Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 11th. Royal Bank Of Canada lowered their price objective on Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $43.14.

Arrowhead Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87. The business has a 50 day moving average of $23.76 and a 200 day moving average of $17.89. The company has a market cap of $4.84 billion, a PE ratio of -27.35 and a beta of 1.12.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The business had revenue of $27.77 million for the quarter, compared to analyst estimates of $29.01 million. During the same period in the previous year, the business earned ($1.38) EPS. As a group, research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $30.00, for a total transaction of $450,000.00. Following the transaction, the insider owned 232,122 shares in the company, valued at approximately $6,963,660. This represents a 6.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 40,000 shares of company stock worth $1,025,000. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in ARWR. GAMMA Investing LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 297.6% during the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 1,628 shares in the last quarter. Virtus Advisers LLC purchased a new position in Arrowhead Pharmaceuticals during the 2nd quarter valued at about $34,000. Nisa Investment Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 75.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,308 shares in the last quarter. CWM LLC grew its holdings in Arrowhead Pharmaceuticals by 134.3% in the first quarter. CWM LLC now owns 4,401 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 2,523 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of Arrowhead Pharmaceuticals by 883.3% during the second quarter. Daiwa Securities Group Inc. now owns 4,189 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 3,763 shares in the last quarter. 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.