Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading 6% Higher – What’s Next?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) traded up 6% during mid-day trading on Thursday . The company traded as high as $20.53 and last traded at $20.90. 978,728 shares were traded during trading, a decline of 32% from the average session volume of 1,446,077 shares. The stock had previously closed at $19.71.

Analyst Ratings Changes

ARWR has been the subject of several research reports. Piper Sandler lowered 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 report on Wednesday, November 27th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Chardan Capital restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein decreased their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Stock Up 8.8 %

The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -4.27 and a beta of 0.97. The firm’s 50 day moving average price is $20.69 and its two-hundred day moving average price is $22.07. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06.

Insider Buying and Selling

In other news, Director William D. Waddill sold 3,748 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $21.90, for a total transaction of $82,081.20. Following the transaction, the director now owns 44,125 shares in the company, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James C. Hamilton sold 32,729 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total value of $648,688.78. Following the transaction, the insider now owns 272,122 shares in the company, valued at $5,393,458.04. The trade was a 10.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,473 shares of company stock valued at $2,937,847. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $38,000. Values First Advisors Inc. acquired a new position in shares of Arrowhead Pharmaceuticals in the third quarter worth approximately $52,000. Mirae Asset Global Investments Co. Ltd. increased its position in Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 788 shares during the period. KBC Group NV raised its holdings in Arrowhead Pharmaceuticals by 45.9% during the 4th 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, Quantbot Technologies LP acquired a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $149,000. 62.61% of the stock is owned by institutional investors.

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.