Arrowhead Pharmaceuticals (NASDAQ:ARWR) Reaches New 1-Year Low – Here’s What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $14.10 and last traded at $14.18, with a volume of 288286 shares trading hands. The stock had previously closed at $14.73.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ARWR. Sanford C. Bernstein dropped their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Finally, B. Riley reaffirmed a “buy” rating and issued a $38.00 price target (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.44.

Arrowhead Pharmaceuticals Stock Down 0.9 %

The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. The company has a market capitalization of $1.89 billion, a P/E ratio of -2.67 and a beta of 0.92. The firm’s 50 day moving average price is $18.24 and its two-hundred day moving average price is $19.68.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.97). Equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 51,425 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $15.07, for a total transaction of $774,974.75. Following the transaction, the chief executive officer now directly owns 4,062,377 shares in the company, valued at approximately $61,220,021.39. The trade was a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick O’brien sold 29,184 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $578,426.88. Following the completion of the sale, the chief operating officer now owns 535,201 shares of the company’s stock, valued at approximately $10,607,683.82. This represents a 5.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 286,317 shares of company stock valued at $5,049,735. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ARWR. HighTower Advisors LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 11.5% during the 3rd quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company’s stock worth $2,401,000 after acquiring an additional 12,706 shares during the period. Intech Investment Management LLC bought a new position in Arrowhead Pharmaceuticals during the third quarter worth $659,000. Erste Asset Management GmbH acquired a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at $924,000. Geode Capital Management LLC raised its position in shares of Arrowhead Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after purchasing an additional 26,171 shares during the period. Finally, State Street Corp lifted its stake in shares of 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. 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.