Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 8%

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) traded down 8% during trading on Thursday . The company traded as low as $21.39 and last traded at $21.42. 397,969 shares traded hands during 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 research analysts have recently commented on the company. Morgan Stanley increased their price objective on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Citigroup increased their price objective on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, February 8th. Bank of America increased their price objective on Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.80.

Arrowhead Pharmaceuticals Stock Performance

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

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

Insiders Place Their Bets

In other news, Director Hongbo Lu acquired 1,000 shares of Arrowhead Pharmaceuticals stock in a transaction on 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 of the company’s stock, valued at $870,883.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the 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 directly owns 400,600 shares of the company’s stock, valued at approximately $14,097,114. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hongbo Lu bought 1,000 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was bought at an average cost of $27.49 per share, with a total value of $27,490.00. Following the completion of the acquisition, 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. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Securian Asset Management Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 12.5% in the 1st quarter. Securian Asset Management Inc. now owns 10,100 shares of the biotechnology company’s stock worth $289,000 after buying an additional 1,121 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 9.9% in the 1st quarter. Yousif Capital Management LLC now owns 57,393 shares of the biotechnology company’s stock worth $1,641,000 after buying an additional 5,169 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Arrowhead Pharmaceuticals by 2.1% in the 1st quarter. New York State Teachers Retirement System now owns 138,683 shares of the biotechnology company’s stock worth $3,966,000 after buying an additional 2,900 shares in the last quarter. WCM Investment Management LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 30.5% in the 1st quarter. WCM Investment Management LLC now owns 225,583 shares of the biotechnology company’s stock worth $6,452,000 after buying an additional 52,718 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Arrowhead Pharmaceuticals by 796.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 344,467 shares of the biotechnology company’s stock worth $9,852,000 after buying an additional 306,059 shares in the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

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.