Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 5% – Here’s Why

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price dropped 5% on Friday . The stock traded as low as $61.14 and last traded at $61.3990. Approximately 614,758 shares were traded during trading, a decline of 71% from the average daily volume of 2,099,257 shares. The stock had previously closed at $64.66.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America upped their target price on Arrowhead Pharmaceuticals from $42.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday. HC Wainwright upped their price target on Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group increased their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 20th. Morgan Stanley boosted their target price on shares of Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 26th. Finally, Chardan Capital restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $53.33.

Arrowhead Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.86 and a current ratio of 4.86. The company has a market capitalization of $8.26 billion, a PE ratio of -760.47 and a beta of 1.28. The company has a 50 day moving average price of $41.44 and a 200 day moving average price of $27.16.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, Director Mauro Ferrari sold 8,750 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $56.39, for a total value of $493,412.50. Following the completion of the sale, the director owned 68,764 shares of the company’s stock, valued at approximately $3,877,601.96. The trade was a 11.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James C. Hamilton sold 20,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total transaction of $700,000.00. Following the transaction, the insider directly owned 212,122 shares in the company, valued at $7,424,270. The trade was a 8.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 43,750 shares of company stock valued at $1,643,413. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds have recently bought and sold shares of ARWR. iSAM Funds UK Ltd purchased a new position in Arrowhead Pharmaceuticals in the third quarter worth $29,000. Salomon & Ludwin LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter valued at $34,000. Federated Hermes Inc. bought a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth $52,000. Smartleaf Asset Management LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 2,186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,692 shares of the biotechnology company’s stock worth $57,000 after buying an additional 1,618 shares during the last quarter. Finally, Virtus Advisers LLC bought a new position in Arrowhead Pharmaceuticals during the second quarter valued at about $34,000. 62.61% of the stock is owned by institutional investors and hedge funds.

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.