Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Down Following Weak Earnings

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $19.92, but opened at $18.23. Arrowhead Pharmaceuticals shares last traded at $19.18, with a volume of 183,105 shares changing hands.

The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.97).

Analyst Ratings Changes

Several equities analysts have recently weighed in on ARWR shares. Sanford C. Bernstein decreased their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Citigroup decreased their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, January 23rd. Piper Sandler decreased their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $43.33.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of Arrowhead Pharmaceuticals stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $21.90, for a total transaction of $82,081.20. Following the completion of the sale, the director now directly owns 44,125 shares in the company, valued at $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James C. Hamilton sold 32,729 shares of Arrowhead Pharmaceuticals stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $648,688.78. Following the sale, the insider now owns 272,122 shares of the company’s stock, valued at approximately $5,393,458.04. This represents a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,432 shares of company stock worth $2,957,986. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 11.5% in the third quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company’s stock valued at $2,401,000 after purchasing an additional 12,706 shares during the period. Intech Investment Management LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at approximately $659,000. Erste Asset Management GmbH purchased a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at approximately $924,000. Geode Capital Management LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after purchasing an additional 26,171 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at approximately $14,420,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Trading Down 1.7 %

The company’s 50 day moving average price is $20.14 and its 200 day moving average price is $21.23. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The firm has a market cap of $2.32 billion, a PE ratio of -3.70 and a beta of 0.95.

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.