Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Down 6.3% – What’s Next?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price fell 6.3% on Friday . The stock traded as low as $20.03 and last traded at $20.06. 121,572 shares were traded during trading, a decline of 90% from the average session volume of 1,193,663 shares. The stock had previously closed at $21.41.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. B. Riley reiterated a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Arrowhead Pharmaceuticals Stock Performance

The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -4.30 and a beta of 0.93. The company’s 50 day moving average is $20.19 and its 200 day moving average is $23.45.

Institutional Trading of Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC increased its position 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 purchasing an additional 12,706 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Arrowhead Pharmaceuticals during the 3rd quarter valued at about $924,000. PDT Partners LLC acquired a new stake in Arrowhead Pharmaceuticals during the 3rd quarter worth $315,000. Verition Fund Management LLC increased its holdings in Arrowhead Pharmaceuticals by 80.7% in the third quarter. Verition Fund Management LLC now owns 76,548 shares of the biotechnology company’s stock valued at $1,483,000 after purchasing an additional 34,197 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $291,000. 62.61% of the stock is currently owned by institutional investors.

About Arrowhead Pharmaceuticals

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.