Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 8% – Here’s Why

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) fell 8% on Friday . The stock traded as low as $58.25 and last traded at $58.50. 1,057,595 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 3,079,045 shares. The stock had previously closed at $63.60.

Analyst Ratings Changes

Several analysts recently commented on the company. The Goldman Sachs Group upped their target price on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. B. Riley Financial boosted their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Bank of America increased their price target on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Weiss Ratings raised Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, February 6th. Finally, Morgan Stanley upped their target price on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Arrowhead Pharmaceuticals Stock Down 9.1%

The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.38 and a current ratio of 3.38. The stock’s 50 day simple moving average is $65.67 and its 200 day simple moving average is $49.59. The firm has a market cap of $8.10 billion, a P/E ratio of 37.78 and a beta of 1.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). The business had revenue of $264.03 million for the quarter, compared to analyst estimates of $225.66 million. Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The firm’s quarterly revenue was up 10461.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.39) earnings per share. Research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Victoria Vakiener sold 10,040 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $67.68, for a total transaction of $679,507.20. Following the completion of the sale, the director directly owned 35,723 shares of the company’s stock, valued at approximately $2,417,732.64. The trade was a 21.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Patrick O’brien sold 49,493 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $63.11, for a total value of $3,123,503.23. Following the completion of the transaction, the chief operating officer owned 474,908 shares in the company, valued at $29,971,443.88. This represents a 9.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 485,836 shares of company stock worth $32,117,910 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Marex Group plc purchased a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $576,000. Nordea Investment Management AB lifted its holdings in Arrowhead Pharmaceuticals by 74.5% during the third quarter. Nordea Investment Management AB now owns 372,282 shares of the biotechnology company’s stock worth $12,661,000 after acquiring an additional 158,937 shares during the period. Marshall Wace LLP boosted its position in Arrowhead Pharmaceuticals by 3,507.8% in the second quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock worth $34,065,000 after purchasing an additional 2,096,238 shares during the last quarter. HBK Sorce Advisory LLC bought a new position in Arrowhead Pharmaceuticals in the 3rd quarter valued at $2,823,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter valued at $287,000. Institutional investors own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.