Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Down 8% – Here’s What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s share price traded down 8% on Monday . The stock traded as low as $12.14 and last traded at $12.72. 259,295 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,335,061 shares. The stock had previously closed at $13.82.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ARWR. Chardan Capital reiterated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. B. Riley restated a “buy” rating and set a $38.00 price target (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $41.44.

Arrowhead Pharmaceuticals Stock Performance

The business has a fifty day simple moving average of $17.84 and a two-hundred day simple moving average of $19.48. The company has a market cap of $1.68 billion, a P/E ratio of -2.36 and a beta of 0.92. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insider Activity

In related news, CEO Christopher Richard Anzalone sold 11,520 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total value of $219,456.00. Following the completion of the sale, the chief executive officer now directly owns 3,764,252 shares of the company’s stock, valued at approximately $71,709,000.60. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Patrick O’brien sold 29,184 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $578,426.88. Following the transaction, the chief operating officer now directly owns 535,201 shares in the company, valued at $10,607,683.82. This represents a 5.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 286,317 shares of company stock valued at $5,049,735 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd purchased a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $38,000. GF Fund Management CO. LTD. bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $49,000. Van ECK Associates Corp lifted its holdings in shares of Arrowhead Pharmaceuticals by 72.3% in 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 in the last quarter. KBC Group NV boosted its position in shares of Arrowhead Pharmaceuticals by 45.9% during 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 last quarter. Finally, Mackenzie Financial Corp purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter valued at $137,000. 62.61% of the stock is owned by institutional investors.

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.