Arrowhead Pharmaceuticals (ARWR) Sees Strong Trading Volume Following Analyst Upgrade

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Shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) saw an uptick in trading volume on Friday after Chardan Capital raised their price target on the stock from $17.50 to $24.50. Chardan Capital currently has a buy rating on the stock. 179,403 shares were traded during mid-day trading, a decline of 87% from the previous session’s volume of 1,349,619 shares.The stock last traded at $19.35 and had previously closed at $20.19.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald set a $18.00 price objective on Arrowhead Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday. B. Riley upgraded Arrowhead Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.00 to $19.00 in a report on Thursday. BidaskClub upgraded Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, May 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, August 8th. Finally, S&P Equity Research reduced their price objective on Arrowhead Pharmaceuticals from $13.76 to $11.68 in a report on Monday, June 18th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Arrowhead Pharmaceuticals has an average rating of “Buy” and an average price target of $18.36.

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 100,000 shares of the business’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $14.45, for a total transaction of $1,445,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,868,789 shares in the company, valued at approximately $27,004,001.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kenneth Allen Myszkowski sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $14.01, for a total value of $280,200.00. Following the sale, the chief financial officer now owns 330,815 shares of the company’s stock, valued at $4,634,718.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 284,834 shares of company stock valued at $4,107,051. Corporate insiders own 4.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $100,000. Great West Life Assurance Co. Can purchased a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $106,000. Macquarie Group Ltd. purchased a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $151,000. Amalgamated Bank purchased a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $181,000. Finally, Legal & General Group Plc purchased a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $188,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

The company has a debt-to-equity ratio of 0.02, a current ratio of 8.69 and a quick ratio of 8.69. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -41.87 and a beta of 1.91.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Tuesday, August 7th. The biotechnology company reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.01. Arrowhead Pharmaceuticals had a negative return on equity of 59.39% and a negative net margin of 400.13%. The firm had revenue of $0.73 million for the quarter, compared to analysts’ expectations of $0.62 million. analysts predict that Arrowhead Pharmaceuticals Inc will post -0.64 EPS for the current year.

About Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. Its pre-clinical stage medicines include ARO-HBV to treat chronic hepatitis B virus infection; ARO-AAT for the treatment of liver disease associated with alpha-1 antitrypsin deficiency; ARO-APOC3 and ARO-ANG3 to treat hypertriglyceridemia; ARO-Lung1 for the treatment of an undisclosed pulmonary target; ARO-HIF2 to treat renal cell carcinoma; ARO-F12 for hereditary angioedema and thromboembolic disorders; and ARO-AMG1 for the treatment of an undisclosed genetically validated cardiovascular target.

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