Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Up 8.4% – Still a Buy?

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) were up 8.4% during mid-day trading on Wednesday . The company traded as high as $16.11 and last traded at $16.32. Approximately 962,590 shares traded hands during trading, a decline of 51% from the average daily volume of 1,966,060 shares. The stock had previously closed at $15.06.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ARWR. Citigroup lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Sanford C. Bernstein dropped their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Finally, Piper Sandler reduced their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $41.44.

Arrowhead Pharmaceuticals Trading Up 4.7 %

The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The business has a 50-day moving average of $19.24 and a 200-day moving average of $20.35. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -3.05 and a beta of 0.92.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly 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). As a group, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 133,333 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total value of $2,269,327.66. Following the sale, the chief executive officer now owns 3,773,802 shares of the company’s stock, valued at $64,230,110.04. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kenneth Allen Myszkowski sold 27,167 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.83, for a total transaction of $538,721.61. Following the completion of the sale, the chief financial officer now owns 473,433 shares in the company, valued at approximately $9,388,176.39. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 280,765 shares of company stock worth $5,227,313. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at about $38,000. GF Fund Management CO. LTD. acquired a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at $49,000. Van ECK Associates Corp raised its position in Arrowhead Pharmaceuticals by 72.3% in the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 1,250 shares during the last quarter. KBC Group NV grew its holdings in shares of Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock worth $98,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $137,000. Institutional investors own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

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.