Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 8%

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup raised their price objective on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, February 8th. Royal Bank of Canada restated an “outperform” rating and issued a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 7th. Bank of America raised their price objective on Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, Morgan Stanley raised their target price on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $50.80.

Arrowhead Pharmaceuticals Trading Up 1.1 %

The business has a 50 day simple moving average of $28.12 and a two-hundred day simple moving average of $28.83.

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

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu bought 1,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was bought at an average price of $27.49 per share, for a total transaction of $27,490.00. Following the transaction, the director now owns 31,680 shares in the company, valued at $870,883.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total value of $1,407,600.00. Following the completion of the transaction, the chief financial officer now owns 400,600 shares in the company, valued at approximately $14,097,114. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Hongbo Lu bought 1,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was purchased at an average price of $27.49 per share, with a total value of $27,490.00. Following the transaction, the director now owns 31,680 shares in the company, valued at approximately $870,883.20. The disclosure for this purchase can be found here. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Arrowhead Pharmaceuticals by 58.2% during the 3rd quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock valued at $115,780,000 after purchasing an additional 1,584,425 shares during the period. Invesco Ltd. boosted its position in Arrowhead Pharmaceuticals by 9.6% during the 3rd quarter. Invesco Ltd. now owns 2,443,038 shares of the biotechnology company’s stock valued at $65,644,000 after purchasing an additional 214,618 shares during the period. Norges Bank acquired a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at approximately $40,451,000. Capital International Investors boosted its position in Arrowhead Pharmaceuticals by 55.2% during the 4th quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock valued at $39,093,000 after purchasing an additional 454,631 shares during the period. Finally, Avoro Capital Advisors LLC boosted its position in 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 valued at $34,578,000 after purchasing an additional 565,000 shares during the period. 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.