Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Down 8%

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) traded down 8% during mid-day trading on Thursday . The company traded as low as $21.39 and last traded at $21.42. 397,969 shares were traded during trading, a decline of 73% from the average session volume of 1,450,230 shares. The stock had previously closed at $23.29.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America increased their target price on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, February 8th. Morgan Stanley increased their target price on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Citigroup increased their target price on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $53.45.

Arrowhead Pharmaceuticals Stock Down 6.1 %

The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -7.83 and a beta of 0.71. The company’s 50-day moving average is $28.28 and its 200-day moving average is $28.88.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.46). The business had revenue of $3.55 million during the quarter, compared to analyst estimates of $35.60 million. Arrowhead Pharmaceuticals had a negative return on equity of 90.77% and a negative net margin of 163.32%. The business’s revenue for the quarter was down 94.3% on a year-over-year basis. During the same period last year, the company earned ($0.39) EPS. On average, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.7 earnings per share for the current year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, CEO Christopher Richard Anzalone sold 57,499 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $32.35, for a total transaction of $1,860,092.65. Following the completion of the sale, the chief executive officer now owns 3,715,048 shares of the company’s stock, valued at $120,181,802.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Christopher Richard Anzalone sold 57,499 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $32.35, for a total transaction of $1,860,092.65. Following the completion of the sale, the chief executive officer now owns 3,715,048 shares of the company’s stock, valued at $120,181,802.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Hongbo Lu acquired 1,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $27.49 per share, with a total value of $27,490.00. Following the acquisition, the director now owns 31,680 shares of the company’s stock, valued at approximately $870,883.20. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ARWR. Washington Trust Advisors Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $25,000. Fifth Third Bancorp increased its holdings in shares of Arrowhead Pharmaceuticals by 112.0% in the third quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 522 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $41,000. Quest Partners LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $45,000. Finally, Friedenthal Financial acquired a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $51,000. 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.