Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 4.9% – Should You Sell?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s share price traded down 4.9% on Wednesday . The stock traded as low as $67.14 and last traded at $67.2220. Approximately 736,034 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 2,268,314 shares. The stock had previously closed at $70.67.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARWR. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 31st. JPMorgan Chase & Co. increased their target price on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Citigroup assumed coverage on Arrowhead Pharmaceuticals in a research note on Tuesday, September 8th. They set a “buy” rating and a $108.00 price objective for the company. Finally, Piper Sandler restated 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. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $99.15.

Arrowhead Pharmaceuticals Stock Up 3.0%

The company has a 50-day moving average of $83.13 and a two-hundred day moving average of $75.33. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $9.54 billion, a P/E ratio of -30.11 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) 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 analysts’ expectations of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The business’s quarterly revenue was up 171.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.26) EPS. On average, research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.62 EPS for the current year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Michael Perry sold 11,600 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the sale, the director owned 111,459 shares of the company’s stock, valued at $9,730,370.70. The trade was a 9.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Adeoye Olukotun sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the sale, the director owned 31,600 shares in the company, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Carolina Wealth Advisors LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 80.6% in the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after buying an additional 154 shares during the period. First Horizon Corp boosted its holdings in Arrowhead Pharmaceuticals by 36.2% during the 1st quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 174 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Arrowhead Pharmaceuticals by 1.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company’s stock valued at $737,000 after acquiring an additional 178 shares during the period. Optiver Holding B.V. grew its position in Arrowhead Pharmaceuticals by 83.8% in the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 186 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Arrowhead Pharmaceuticals by 285.1% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 248 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc (NASDAQ:ARWR) is a biopharmaceutical company focused on developing medicines that silence disease-causing genes. The company uses RNA interference (RNAi), a biological process that reduces the production of specific proteins, to target conditions that may be difficult to treat with conventional drugs.

Arrowhead’s proprietary TRiM platform is designed to deliver RNAi-based therapies to different tissues, including the liver, lungs and other organs. Its investigational pipeline has included candidates for cardiovascular and metabolic diseases, liver disorders, pulmonary conditions and inflammatory diseases.