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Thursday’s Winners: Arrowhead, ProQR, and WSI Industries

Although today is a red day for the DOW and S&P so far, there are still some heavy movers on the market.  Arrowhead Pharmaceuticals Inc. is up 46%, ProQR Therapeutics is still holding up to highs of 120% from Tuesdays close, and WSI Industries Inc. is up 34%.  Let’s take a look at what’s moving these stocks.

Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR)

This company is a biopharmaceutical developing therapeutics for chronic aliments such as hepatitis B and obesity.  The current clinical drug ARO-HBV has been performing well under trials.  Because of this, analyst Madhu Kumar with B. Riley FBR upgraded the stock from neutral to a buy and raised their price target on Arrowhead shares to $19.00 a share.  This prompted one of the largest rallies the stock has seen in over 4 years, gaining 46% in just one day.  Even though the trials are still young and the data is early, Kumar tell investors that the data provides “clinical proof of concept for Arrowhead’s current hepatitis B franchise.”

ProQR Therapeutics N.V. (NASDAQ:PRQR)

Like Arrowhead, ProQR Therapeutics is soaring based off of positive drug trial results.  ProQR is developing and testing a compound called QR-110 which is hoped to be used to treat a specific genetic mutation that leads to blindness in children.  The drug is reported to have shown clinically meaningful responses after three months of treatment in “about 60% of patients.”  The company also announced its plans to offer $75,000,000 of its ordinary shares through an underwritten public offering.  Shares of ProQR soared to highs of 120% yesterday, and it is still holding high today.

WSI Industries Inc. (NASDAQ:WSCI)

In an announcement earlier today, Polaris Industries Inc (NASDAQ:PII) and WSI Industries uncovered their merger agreement.  Polaris is set to aquire all outstanding common stock at $7.00 a share in cash.  The merger is “subject to customary conditions including WSI shareholder approval.”  In reaction to the news, shares of WSCI rose 34%, almost hitting the $7.00 a share mark.

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