NEW YORK (TheStreet) -- Shares of Arrowhead Pharmaceuticals (ARWR - Get Report) closed higher by 4.04% to $6.18 on heavy trading volume Thursday, after the release of "promising" data yesterday about its lead product candidate ARC-520 for the treatment of the hepatitis B virus (HBV) infection.
HBV is a serious liver infection caused by the hepatitis B virus. Chronic HBV can lead to severe health issues, such as liver cancer or cirrhosis, which is scarring of the liver.
The Pasadena, CA-based biopharmaceutical company presented findings from its clinical and nonclinical studies at the International Liver Congress in Barcelona this week.
"These are exciting results that continue to show that ARC-520 can reduce the production of HBV viral proteins. We have ongoing multiple-dose and combination studies designed to assess if this will allow the body's natural immune defenses to control the virus and lead to a functional cure," CEO Chris Anzalone said in a statement yesterday.
About 1.16 million of the company's shares changed hands today vs. its average volume of 630,597 shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: ARWR