Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 9.2% - What's Next?

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) fell 9.2% during mid-day trading on Wednesday . The company traded as low as $11.57 and last traded at $11.69. 401,384 shares were traded during trading, a decline of 72% from the average session volume of 1,409,690 shares. The stock had previously closed at $12.87.

Analysts Set New Price Targets

ARWR has been the topic of a number of recent analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Chardan Capital reaffirmed a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. B. Riley reissued a "buy" rating and issued a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. Finally, HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $41.44.

Arrowhead Pharmaceuticals Price Performance

The stock's 50 day moving average price is $15.25 and its two-hundred day moving average price is $18.59. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -2.34 and a beta of 0.99.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.97). Analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 40,322 shares of Arrowhead Pharmaceuticals stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $10.07, for a total value of $406,042.54. Following the completion of the transaction, the chief executive officer now owns 4,022,055 shares in the company, valued at approximately $40,502,093.85. The trade was a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 276,839 shares of company stock valued at $4,054,176 over the last ninety days. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ARWR. Avoro Capital Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 25.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company's stock valued at $208,889,000 after buying an additional 2,222,223 shares during the period. Slate Path Capital LP raised 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 period. Geode Capital Management LLC lifted its stake in 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 buying an additional 26,171 shares in the last quarter. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $38,622,000. Finally, Northern Trust Corp raised its holdings in shares of Arrowhead Pharmaceuticals by 11.4% during the fourth quarter. Northern Trust Corp now owns 1,484,419 shares of the biotechnology company's stock worth $27,907,000 after acquiring an additional 151,654 shares during the period. 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.