Here's Why Arrowhead Pharmaceuticals Stock Soared 410% in 2019
Shares of Arrowhead Pharmaceuticals (NASDAQ: ARWR) rose 410% last year, according to data provided by S&P Global Market Intelligence. That easily topped the 28.8% gain of the S&P 500 in 2019. The pharma stock had climbed 150% by the end of August, although the bulk of the annual gains came during the fourth quarter.
Perhaps the biggest single event of the year occurred at the American Association for the Study of Liver Diseases (AASLD) annual meeting in November. Arrowhead Pharmaceuticals and Johnson & Johnson (NYSE: JNJ) subsidiary Janssen presented promising data from two ongoing phase 1 studies in chronic hepatitis B (CHB) that touched off an epic end-of-year rally.
Image source: Getty Images.
Source Fool.com