Arrowhead Pharmaceuticals (NASDAQ:ARWR) Director Adeoye Olukotun Sells 2,000 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Adeoye Olukotun sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the transaction, the director owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Arrowhead Pharmaceuticals Trading Down 2.2%

Shares of Arrowhead Pharmaceuticals stock opened at $87.47 on Friday. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $19.82 and a twelve month high of $95.49. The firm has a market capitalization of $12.32 billion, a PE ratio of -38.88 and a beta of 1.27. The firm’s 50-day moving average price is $82.59 and its 200 day moving average price is $72.77.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The firm had revenue of $75.25 million for the quarter, compared to analysts’ expectations of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.Arrowhead Pharmaceuticals’s quarterly revenue was up 171.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.26) earnings per share. On average, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ARWR. Stifel Nicolaus started coverage on Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price objective for the company. Leerink Partners boosted their price target on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 17th. Piper Sandler reaffirmed an “overweight” rating and set a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. HC Wainwright increased their price objective on shares of Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $97.33.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds have recently made changes to their positions in ARWR. Royal Bank of Canada grew its stake in shares of Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after buying an additional 10,496 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the 1st quarter valued at approximately $514,000. Goldman Sachs Group Inc. raised its position in shares of Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after buying an additional 447,456 shares during the period. Empowered Funds LLC lifted its holdings in Arrowhead Pharmaceuticals by 6.9% in the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock valued at $194,000 after acquiring an additional 979 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in Arrowhead Pharmaceuticals by 1,339.5% in the first quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 15,123 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

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.