Benzinga | Oct 15, 2020 02:51PM EDT

Why Arrowhead Pharmaceuticals Is Trading Higher Today

Arrowhead Pharmaceuticals (NASDAQ:ARWR) shares are trading higher on Thursday on news that Vertex Pharmaceuticals discontinued its trial of a drug candidate in the same field as Arrowhead Pharma.

Arrowhead Pharmaceuticals is an American biotechnology company. Its main target is the development of medicine to treat diseases with a genetic origin, characterized by the overproduction of one or more proteins.

Its medical solutions are aimed at the genes that trigger the diseases. Its portfolio includes drugs targeting hepatitis B, Alpha-1 Antitrypsin Deficiency, thrombosis and angioedema, clear-cell and renal cell carcinoma, and cardiovascular disease.

Arrowhead Pharmaceuticals shares traded up 12.26% to $49.91 on Thursday. The stock has a 52-week high of $73.72 and a 52-week low of $19.51.