Long Position on ARWR @ $29.00 on 8/1/2019 (Momentum)

cup and handle $ARWRArrowhead Pharmaceuticals, Inc. (ARWR) develops medicines for the treatment of intractable diseases in the United States. 

The company is also involved in the development of ARO-HBV, a third-generation subcutaneously administered RNAi therapeutic candidate to treat chronic hepatitis B virus infection; AMG 890 to reduce production of apolipoprotein A; and ARO-AMG1 for treating undisclosed genetically-validated cardiovascular target.ny's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.

Arrowhead Pharmaceuticals, Inc. has collaboration and license agreement with Amgen, Inc.; and Janssen Pharmaceuticals, Inc. to develop RNAi therapeutics. 

The company is scheduled to report its quarterly results on August 5th.

On May 8th, the firm reported its earnings. The Company reported 2nd Quarter March 2019 earnings of $0.24 per share on revenue of $48.1 million. The consensus earnings estimate was $0.22 per share on revenue of $44.6 million. Since then shares have formed a bullish "cup and handle" and are expected to move higher out of this formation.

 

Entry Point: $29.00

Stop Loss: $27.50

Trading Range: $10.41 to $30.73

Target Price: $31.90

Updates

8/19/2019 2:53:43 PM

ARWR closed at $33.86

Position closed on 8/19/2019 at price of $33.86 with a 16.76% gain in 18 days.

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