Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Break Below 200-Day Moving Average – Here’s What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $75.86 and traded as low as $62.22. Arrowhead Pharmaceuticals shares last traded at $62.35, with a volume of 2,249,374 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ARWR shares. Citigroup started coverage on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 8th. They issued a “buy” rating and a $108.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 24th. They set a “neutral” rating and a $74.00 price target on the stock. Chardan Capital reissued a “buy” rating and issued a $115.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 31st. Royal Bank Of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 31st. Finally, Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.31.

Arrowhead Pharmaceuticals Price Performance

The firm has a 50 day moving average of $79.88 and a 200-day moving average of $75.89. 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 cap of $8.66 billion, a P/E ratio of -27.32 and a beta of 1.29.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The business had revenue of $75.25 million during the quarter, compared to the consensus estimate of $44.17 million. During the same quarter in the previous year, the company earned ($1.26) earnings per share. The company’s revenue for the quarter was up 171.0% compared to the same quarter last year. On average, equities research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.62 EPS for the current year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the sale, the director owned 111,459 shares in the company, valued at $9,730,370.70. The trade was a 9.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the transaction, the director owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. The trade was a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Carolina Wealth Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 80.6% during the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 154 shares during the last quarter. First Horizon Corp raised its stake in Arrowhead Pharmaceuticals by 36.2% in the 1st quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 174 shares during the last quarter. Optiver Holding B.V. lifted its position in Arrowhead Pharmaceuticals by 83.8% during the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 186 shares during the period. Versant Capital Management Inc lifted its position in Arrowhead Pharmaceuticals by 285.1% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 248 shares during the period. Finally, QRG Capital Management Inc. grew its stake in Arrowhead Pharmaceuticals by 7.1% during the 2nd quarter. QRG Capital Management Inc. now owns 4,810 shares of the biotechnology company’s stock valued at $392,000 after purchasing an additional 317 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes. Its research is based primarily on RNA interference (RNAi), a biological process that reduces the production of specific proteins by targeting messenger RNA before it can be used to make those proteins.

The company uses its proprietary Targeted RNAi Molecule (TRiM) platform to design and deliver RNAi therapeutics to selected tissues, including the liver and lungs.