Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Up 9.5% – Here’s Why

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s share price shot up 9.5% on Monday . The stock traded as high as $43.40 and last traded at $44.3090. 448,304 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 2,037,848 shares. The stock had previously closed at $40.45.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ARWR shares. Morgan Stanley raised their price objective on shares of Arrowhead Pharmaceuticals from $29.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 12th. Piper Sandler lifted their price target on Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. TD Cowen raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, July 28th. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Finally, B. Riley raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $48.22.

Arrowhead Pharmaceuticals Trading Up 9.3%

The firm’s fifty day simple moving average is $36.95 and its 200 day simple moving average is $24.72. The stock has a market capitalization of $6.11 billion, a P/E ratio of -34.49 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.87 and a current ratio of 4.87.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $35.00, for a total transaction of $700,000.00. Following the completion of the transaction, the insider owned 212,122 shares of the company’s stock, valued at $7,424,270. This trade represents a 8.62% 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. In the last three months, insiders have sold 50,000 shares of company stock worth $1,525,000. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ARWR. iSAM Funds UK Ltd bought a new stake in Arrowhead Pharmaceuticals in the third quarter valued at $29,000. Virtus Advisers LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at about $34,000. Salomon & Ludwin LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at about $34,000. Nisa Investment Advisors LLC increased its position in Arrowhead Pharmaceuticals by 75.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 1,308 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $52,000. 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.