Arrowhead Pharmaceuticals (NASDAQ:ARWR) Reaches New 1-Year High – Time to Buy?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $69.50 and last traded at $68.5170, with a volume of 714855 shares traded. The stock had previously closed at $61.44.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARWR. Bank of America increased their target price on Arrowhead Pharmaceuticals from $42.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. HC Wainwright raised their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. The Goldman Sachs Group lifted their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 20th. Morgan Stanley boosted their price target on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Finally, B. Riley upgraded Arrowhead Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $53.33.

Arrowhead Pharmaceuticals Stock Up 14.9%

The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.86 and a current ratio of 4.86. The stock’s fifty day simple moving average is $42.01 and its two-hundred day simple moving average is $27.65. The stock has a market capitalization of $9.58 billion, a P/E ratio of -883.10 and a beta of 1.28.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, Director Mauro Ferrari sold 8,750 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, November 28th. The shares were sold at an average price of $56.39, for a total transaction of $493,412.50. Following the completion of the transaction, the director owned 68,764 shares of the company’s stock, valued at $3,877,601.96. This trade represents a 11.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James C. Hamilton sold 20,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total value of $700,000.00. Following the sale, the insider owned 212,122 shares of the company’s stock, valued at approximately $7,424,270. The trade was a 8.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 43,750 shares of company stock valued at $1,643,413. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in Arrowhead Pharmaceuticals by 3.1% in the third quarter. PNC Financial Services Group Inc. now owns 10,924 shares of the biotechnology company’s stock worth $377,000 after purchasing an additional 326 shares during the period. State of Wyoming boosted its position in shares of Arrowhead Pharmaceuticals by 5.6% during the 3rd quarter. State of Wyoming now owns 9,519 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 504 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Arrowhead Pharmaceuticals by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 32,661 shares of the biotechnology company’s stock valued at $1,126,000 after buying an additional 620 shares during the period. CWM LLC raised its stake in Arrowhead Pharmaceuticals by 6.7% during the 3rd quarter. CWM LLC now owns 12,179 shares of the biotechnology company’s stock worth $420,000 after buying an additional 764 shares during the period. Finally, Oak Ridge Investments LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 2.5% during the first quarter. Oak Ridge Investments LLC now owns 33,734 shares of the biotechnology company’s stock valued at $430,000 after buying an additional 823 shares during 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.