Drug Data Sends Arrowhead Pharmaceuticals Stock to Multi-Year High

Short sellers are getting crushed by ARWR stock

Sep 6, 2018 at 10:18 AM
facebook X logo linkedin


Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) is trading up 43.4% this morning, last seen at $20.22, thanks to positive clinical data for the company's hepatitis B treatment. The stock hit its highest point since early 2014 out of the gate, peaking at $20.80, with an upgrade from B. Riley also providing tailwinds. The brokerage firm lifted its rating on ARWR shares to "buy" from "neutral," and moved its price target up to $19 from $18.

This outperformance is just more of the same from the equity, which came into 2018 trading below $4 per share, meaning it's added over 400% this year. However, the stock's massive rally up the charts has drawn the attention of short sellers, with the number of shorted shares soaring higher throughout the year. In just the last two reporting periods, short interest rose 12.3%, and as it stands now it'd take these bears two weeks to cover their bets -- a large number that indicates the potential for a short squeeze going forward.

This skepticism certainly isn't seen from analysts, even prior to B. Riley's bull note this morning. Of the six brokerage firms in coverage, five of them say Arrowhead Pharmaceuticals is a "strong buy." However, the shares have blown past their average 12-month price target of $16.25, suggesting some analysts may need to upwardly revise their price targets.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI