Shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) dropped 7.4% during mid-day trading on Thursday . The stock traded as low as $3.05 and last traded at $3.15. Approximately 1,700,682 shares traded hands during mid-day trading, an increase of 73% from the average daily volume of 984,368 shares. The stock had previously closed at $3.40.

ARWR has been the topic of several research analyst reports. Cantor Fitzgerald set a $2.00 price target on shares of Arrowhead Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday. BidaskClub downgraded shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Chardan Capital reaffirmed a “neutral” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, September 13th. William Blair raised shares of Arrowhead Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, September 18th. Finally, Piper Jaffray Companies raised shares of Arrowhead Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.50 price objective for the company in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $3.17.

The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.03.

Several large investors have recently added to or reduced their stakes in the company. ING Groep NV bought a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth about $3,500,000. Geode Capital Management LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 3.4% during the 1st quarter. Geode Capital Management LLC now owns 663,062 shares of the biotechnology company’s stock worth $1,226,000 after acquiring an additional 21,654 shares during the period. Allianz Asset Management GmbH bought a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth about $1,958,000. LMR Partners LLP bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth about $467,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 10.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 171,249 shares of the biotechnology company’s stock worth $742,000 after acquiring an additional 16,103 shares during the period. 20.20% of the stock is owned by institutional investors.

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About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc, formerly Arrowhead Research Corporation, develops medicines that treat intractable diseases by silencing the genes that cause them. Using a portfolio of ribonucleic acid (RNA) chemistries and modes of delivery, the Company’s therapies trigger the RNA interference mechanism to induce knockdown of target genes.

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