Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report)'s share price shot up 8.2% during trading on Monday . The stock traded as high as $12.12 and last traded at $12.17. 562,528 shares were traded during trading, a decline of 61% from the average session volume of 1,429,614 shares. The stock had previously closed at $11.24.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Chardan Capital reiterated a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Finally, B. Riley reaffirmed a "buy" rating and set a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of "Hold" and an average target price of $41.44.
Read Our Latest Report on ARWR
Arrowhead Pharmaceuticals Price Performance
The stock's 50 day moving average price is $14.72 and its two-hundred day moving average price is $18.43. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -2.58 and a beta of 0.99.
Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.97). On average, equities research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.
Insiders Place Their Bets
In other news, CEO Christopher Richard Anzalone sold 133,333 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $17.02, for a total transaction of $2,269,327.66. Following the completion of the transaction, the chief executive officer now owns 3,773,802 shares of the company's stock, valued at approximately $64,230,110.04. This represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 275,880 shares of company stock valued at $4,034,037 in the last three months. Company insiders own 4.30% of the company's stock.
Hedge Funds Weigh In On Arrowhead Pharmaceuticals
A number of hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. raised its position in Arrowhead Pharmaceuticals by 9.4% in the third quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company's stock worth $373,000 after purchasing an additional 1,658 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 11.6% in the 4th quarter. Pacer Advisors Inc. now owns 27,918 shares of the biotechnology company's stock worth $525,000 after buying an additional 2,907 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth approximately $268,000. Nordea Investment Management AB boosted its stake in Arrowhead Pharmaceuticals by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 132,188 shares of the biotechnology company's stock valued at $2,463,000 after buying an additional 7,776 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at $434,000. Institutional investors and hedge funds own 62.61% of the company's stock.
About Arrowhead Pharmaceuticals
(
Get Free Report)
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.
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