Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Up 7.4%

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) was up 7.4% during mid-day trading on Friday . The company traded as high as $28.02 and last traded at $27.98. Approximately 423,756 shares changed hands during trading, a decline of 58% from the average daily volume of 1,015,138 shares. The stock had previously closed at $26.06.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ARWR shares. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, August 9th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, August 8th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Citigroup assumed coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 19th. They issued a “neutral” rating and a $33.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $47.00 target price (down from $79.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, August 8th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.53.

Arrowhead Pharmaceuticals Price Performance

The firm’s fifty day moving average is $26.44 and its 200 day moving average is $31.24. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -16.41 and a beta of 0.89.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, CEO Christopher Richard Anzalone sold 57,755 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $28.12, for a total value of $1,624,070.60. Following the transaction, the chief executive officer now directly owns 3,761,338 shares of the company’s stock, valued at $105,768,824.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Arrowhead Pharmaceuticals news, Director Victoria Vakiener sold 1,550 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $26.33, for a total value of $40,811.50. Following the completion of the sale, the director now directly owns 21,734 shares of the company’s stock, valued at $572,256.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Richard Anzalone sold 57,755 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $28.12, for a total transaction of $1,624,070.60. Following the transaction, the chief executive officer now owns 3,761,338 shares in the company, valued at approximately $105,768,824.56. The disclosure for this sale can be found here. Insiders sold 83,643 shares of company stock valued at $2,254,105 in the last quarter. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp boosted its stake in shares of Arrowhead Pharmaceuticals by 112.0% during the 3rd quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 522 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $29,000. KBC Group NV bought a new stake in Arrowhead Pharmaceuticals during the second quarter worth approximately $32,000. Point72 Asset Management L.P. acquired a new position in Arrowhead Pharmaceuticals during the second quarter valued at approximately $32,000. Finally, Advisors Asset Management Inc. raised its position in shares of Arrowhead Pharmaceuticals by 94.6% in the first quarter. Advisors Asset Management Inc. now owns 720 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. 65.98% of the stock is owned by institutional investors and hedge funds.

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 ARO-AAT, a RNA interference (RNAi) therapeutic candidate that is in phase II clinical trial for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3, which is in phase 2b and one phase 3 clinical trial to treat hypertriglyceridemia; ARO-ANG3 that is in phase 2b clinical trial for the treatment of dyslipidemia; ARO-HSD, which is completed phase 1/2 clinical trial to treat liver diseases; ARO-ENaC2, which is in pre-clinical stage for the treatment of dyslipidemia cystic fibrosis; ARO-C3 that is in phase 1/2a clinical trial to reduce production of complement component 3; ARO-DUX4, which is in pre-clinical stage for the treatment of facioscapulohumeral muscular dystrophy; ARO-XDH that is in phase 1 clinical trial to treat uncontrolled gout; ARO-COV, which is in pre-clinical stage for the treatment of COVID-19; ARO-RAGE, which is in phase 1/2a clinical trial to treat muco-obstructive or inflammatory pulmonary conditions; and ARO-MMP7 that is in phase 1/2a clinical trial for treatment of idiopathic pulmonary fibrosis.