Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 12-Month Low – Here’s Why

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $16.26 and last traded at $16.43, with a volume of 68011 shares trading hands. The stock had previously closed at $16.97.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Citigroup lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. Finally, Piper Sandler lowered their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.44.

Arrowhead Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -2.91 and a beta of 0.92. The stock has a fifty day moving average of $19.24 and a 200 day moving average of $20.35.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). On average, analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 133,333 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total value of $2,269,327.66. Following the completion of the transaction, the chief executive officer now directly owns 3,773,802 shares of the company’s stock, valued at approximately $64,230,110.04. The trade was a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William D. Waddill sold 3,748 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the transaction, the director now directly owns 44,125 shares of the company’s stock, valued at $966,337.50. The trade was a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,765 shares of company stock valued at $5,227,313. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ARWR. Avoro Capital Advisors LLC lifted its holdings in Arrowhead Pharmaceuticals by 25.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock valued at $208,889,000 after acquiring an additional 2,222,223 shares during the period. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $38,622,000. Farallon Capital Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $11,821,000. Two Sigma Investments LP increased its position in shares of Arrowhead Pharmaceuticals by 281.3% in the fourth quarter. Two Sigma Investments LP now owns 794,373 shares of the biotechnology company’s stock valued at $14,934,000 after buying an additional 586,062 shares in the last quarter. Finally, State Street Corp increased its position in shares of Arrowhead Pharmaceuticals by 8.8% in the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after buying an additional 516,569 shares in the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.