Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Down 7% – What’s Next?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price fell 7% during trading on Friday . The company traded as low as $78.52 and last traded at $78.0850. 353,765 shares traded hands during trading, a decline of 86% from the average session volume of 2,459,007 shares. The stock had previously closed at $84.00.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARWR. Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $100.00 in a report on Tuesday, April 21st. JPMorgan Chase & Co. assumed coverage on Arrowhead Pharmaceuticals in a report on Friday, May 1st. They set an “overweight” rating and a $88.00 target price on the stock. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Chardan Capital reissued a “buy” rating and issued a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, June 30th. Finally, Sanford C. Bernstein raised their price objective on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.27.

Arrowhead Pharmaceuticals Stock Performance

The stock has a market capitalization of $10.93 billion, a P/E ratio of -36.02 and a beta of 1.26. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average price of $77.79 and a two-hundred day moving average price of $69.34.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.17. The company had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The firm’s revenue for the quarter was down 86.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.75 EPS. On average, equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total value of $228,333.60. Following the completion of the sale, the director owned 52,012 shares in the company, valued at $3,998,682.56. The trade was a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James C. Hamilton sold 10,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the transaction, the insider owned 226,958 shares in the company, valued at $17,021,850. The trade was a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 26,065 shares of company stock valued at $1,912,662 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Large investors have recently made changes to their positions in the company. Carolina Wealth Advisors LLC increased its position in Arrowhead Pharmaceuticals by 80.6% in the 2nd 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 in the last quarter. Allied Private Wealth LLC bought a new position in Arrowhead Pharmaceuticals in the second quarter worth approximately $43,000. Assenagon Asset Management S.A. boosted its holdings in Arrowhead Pharmaceuticals by 243.8% in the second quarter. Assenagon Asset Management S.A. now owns 201,927 shares of the biotechnology company’s stock worth $16,459,000 after acquiring an additional 143,192 shares in the last quarter. GAMMA Investing LLC grew its stake in Arrowhead Pharmaceuticals by 15.9% in the second quarter. GAMMA Investing LLC now owns 3,879 shares of the biotechnology company’s stock valued at $316,000 after acquiring an additional 532 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new stake in Arrowhead Pharmaceuticals in the second quarter valued at approximately $105,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Company Profile

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.