Michael Perry Sells 16,250 Shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Michael Perry sold 16,250 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, December 5th. The stock was sold at an average price of $61.03, for a total transaction of $991,737.50. Following the sale, the director owned 115,240 shares in the company, valued at $7,033,097.20. This represents a 12.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock traded up $0.23 during midday trading on Tuesday, hitting $68.83. 5,713,602 shares of the company were exchanged, compared to its average volume of 2,140,522. The firm has a 50 day simple moving average of $42.71 and a 200-day simple moving average of $28.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86. The firm has a market cap of $9.35 billion, a P/E ratio of -860.27 and a beta of 1.28. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $9.57 and a 52 week high of $71.50.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ARWR shares. The Goldman Sachs Group increased their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, November 20th. Bank of America upped their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank Of Canada lifted their target price on shares of Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Piper Sandler increased their price target on Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Finally, Morgan Stanley lifted their price objective on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.44.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ARWR. iSAM Funds UK Ltd bought a new stake in Arrowhead Pharmaceuticals in the third quarter valued at about $29,000. Virtus Advisers LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth about $34,000. Salomon & Ludwin LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at about $34,000. Nisa Investment Advisors LLC raised its position in shares of Arrowhead Pharmaceuticals by 75.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 1,308 shares during the period. Finally, Federated Hermes Inc. bought a new position in Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $52,000. Institutional investors own 62.61% of the company’s stock.

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.