StockNews.com Upgrades Arrowhead Pharmaceuticals (NASDAQ:ARWR) to Sell

Arrowhead Pharmaceuticals (NASDAQ:ARWR) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a research note issued to investors on Tuesday.

A number of other brokerages also recently issued reports on ARWR. The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price target for the company. Chardan Capital reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 26th. Morgan Stanley decreased their price target on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, May 13th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, June 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.89.

Arrowhead Pharmaceuticals Stock Performance

ARWR traded down $0.83 during trading on Tuesday, reaching $25.22. 805,985 shares of the company traded hands, compared to its average volume of 1,333,021. Arrowhead Pharmaceuticals has a 12-month low of $20.67 and a 12-month high of $39.83. The firm has a fifty day simple moving average of $24.49 and a 200 day simple moving average of $28.33. The company has a market cap of $3.13 billion, a P/E ratio of -5.93 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. During the same quarter in the previous year, the business earned $0.45 EPS. The firm’s revenue was down 100.0% compared to the same quarter last year. As a group, sell-side analysts expect that Arrowhead Pharmaceuticals will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Victoria Vakiener sold 1,799 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $41,934.69. Following the transaction, the director now owns 30,205 shares in the company, valued at approximately $704,078.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $40,451,000. Goldman Sachs Group Inc. increased its position in shares of Arrowhead Pharmaceuticals by 136.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after purchasing an additional 613,067 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $9,587,000. Avoro Capital Advisors LLC increased its position in shares of Arrowhead Pharmaceuticals by 100.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,130,000 shares of the biotechnology company’s stock worth $34,578,000 after purchasing an additional 565,000 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Arrowhead Pharmaceuticals by 12.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,714 shares of the biotechnology company’s stock worth $279,000 after purchasing an additional 952 shares during the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

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.