Michael Perry Sells 11,600 Shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Michael Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total value of $1,012,680.00. Following the completion of the transaction, the director owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $87.11 on Friday. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of -38.72 and a beta of 1.27. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $20.44 and a twelve month high of $95.49. The business has a 50 day simple moving average of $82.84 and a 200-day simple moving average of $72.87.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The firm had revenue of $75.25 million for the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The business’s revenue for the quarter was up 171.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.26) earnings per share. As a group, equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARWR has been the subject of several research reports. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. B. Riley Financial increased their price objective on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Piper Sandler reissued an “overweight” rating and issued a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Stifel Nicolaus started coverage on Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They issued a “buy” rating and a $98.00 target price for the company. Finally, Morgan Stanley upped their target price on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.33.

Institutional Trading of Arrowhead Pharmaceuticals

A number of large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Arrowhead Pharmaceuticals during the 2nd quarter valued at about $1,208,838,000. Geode Capital Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock valued at $216,799,000 after purchasing an additional 133,921 shares during the period. Baker BROS. Advisors LP raised its holdings in shares of Arrowhead Pharmaceuticals by 30.2% during the fourth quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock valued at $144,441,000 after buying an additional 504,883 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Arrowhead Pharmaceuticals by 0.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock valued at $138,619,000 after buying an additional 6,264 shares during the last quarter. Finally, Fred Alger Management LLC boosted its position in shares of Arrowhead Pharmaceuticals by 497.4% during the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after buying an additional 1,526,164 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.