Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 4.8% – What’s Next?

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) fell 4.8% during trading on Tuesday . The company traded as low as $15.06 and last traded at $14.76. 63,820 shares traded hands during trading, a decline of 95% from the average session volume of 1,262,963 shares. The stock had previously closed at $15.50.

Analysts Set New Price Targets

Several analysts have recently weighed in on ARWR shares. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Sanford C. Bernstein reduced their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Citigroup cut their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Piper Sandler decreased their price objective 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Hold” and an average price target of $41.44.

Arrowhead Pharmaceuticals Stock Down 5.4 %

The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The stock’s 50-day simple moving average is $18.35 and its 200 day simple moving average is $19.72. The firm has a market cap of $1.91 billion, a P/E ratio of -2.69 and a beta of 0.92.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.97). As a group, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, COO Patrick O’brien sold 29,184 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $578,426.88. Following the completion of the sale, the chief operating officer now owns 535,201 shares in the company, valued at $10,607,683.82. The trade was a 5.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher Richard Anzalone sold 11,520 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $19.05, for a total value of $219,456.00. Following the transaction, the chief executive officer now directly owns 3,764,252 shares in the company, valued at $71,709,000.60. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 289,167 shares of company stock valued at $5,106,735. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $38,000. GF Fund Management CO. LTD. bought a new position in Arrowhead Pharmaceuticals during the fourth quarter valued at about $49,000. Van ECK Associates Corp increased its holdings in Arrowhead Pharmaceuticals by 72.3% during the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock worth $56,000 after buying an additional 1,250 shares during the last quarter. KBC Group NV raised its position in Arrowhead Pharmaceuticals by 45.9% in the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock worth $98,000 after acquiring an additional 1,644 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in Arrowhead Pharmaceuticals in the fourth quarter worth about $137,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

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.