Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 1-Year Low – Here’s Why

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $16.67 and last traded at $16.69, with a volume of 381730 shares changing hands. The stock had previously closed at $17.71.

Wall Street Analysts Forecast Growth

ARWR has been the subject of a number of research analyst reports. Sanford C. Bernstein reduced their target price on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, November 29th. B. Riley reissued a “buy” rating and set a $38.00 target price (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Citigroup reduced their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.44.

Arrowhead Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09. The stock has a 50 day moving average price of $19.56 and a two-hundred day moving average price of $20.67. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -3.26 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). As a group, analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 32,729 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total value of $648,688.78. Following the completion of the transaction, the insider now directly owns 272,122 shares in the company, valued at approximately $5,393,458.04. This trade represents a 10.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William D. Waddill sold 3,748 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the transaction, the director now owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,432 shares of company stock worth $2,957,986. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Avoro Capital Advisors LLC lifted its holdings in Arrowhead Pharmaceuticals by 25.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock worth $208,889,000 after buying an additional 2,222,223 shares during the last quarter. State Street Corp lifted its holdings in Arrowhead Pharmaceuticals by 8.8% during the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after buying an additional 516,569 shares during the last quarter. Slate Path Capital LP lifted its holdings in Arrowhead Pharmaceuticals by 7.1% during the 4th quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company’s stock worth $98,362,000 after buying an additional 347,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Arrowhead Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after buying an additional 26,171 shares during the last quarter. Finally, Norges Bank purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth about $38,622,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.