Insider Selling: Arrowhead Pharmaceuticals (NASDAQ:ARWR) CFO Sells 13,095 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CFO Daniel Joseph Apel sold 13,095 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total transaction of $934,328.25. Following the transaction, the chief financial officer owned 162,905 shares in the company, valued at approximately $11,623,271.75. This trade represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arrowhead Pharmaceuticals Stock Down 0.7%

Shares of ARWR traded down $0.49 during mid-day trading on Friday, hitting $73.91. 1,639,041 shares of the company’s stock were exchanged, compared to its average volume of 2,749,030. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $12.44 and a twelve month high of $76.76. The firm has a fifty day moving average of $62.63 and a two-hundred day moving average of $57.95. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.29. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 48.31 and a beta of 1.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The firm had revenue of $264.03 million during the quarter, compared to analyst estimates of $225.66 million. During the same quarter in the previous year, the business posted ($1.39) earnings per share. The business’s quarterly revenue was up 10461.3% compared to the same quarter last year. On average, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARWR has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on shares of Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. B. Riley Financial raised their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, March 25th. Morgan Stanley upgraded shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $78.00 to $100.00 in a research note on Tuesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.78.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its position in shares of Arrowhead Pharmaceuticals by 3,142.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock valued at $71,797,000 after purchasing an additional 2,017,489 shares during the period. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $113,159,000. Fred Alger Management LLC increased its position in shares of Arrowhead Pharmaceuticals by 497.4% during the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after purchasing an additional 1,526,164 shares during the period. Deerfield Management Company L.P. bought a new stake in shares of Arrowhead Pharmaceuticals during the third quarter valued at approximately $34,249,000. Finally, Vestal Point Capital LP bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $59,751,000. 62.61% of the stock is owned by institutional investors.

Arrowhead Pharmaceuticals Company Profile

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.