Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Down to $48.50

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Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) gapped down before the market opened on Friday . The stock had previously closed at $50.00, but opened at $48.50. Arrowhead Pharmaceuticals shares last traded at $47.44, with a volume of 2,366,600 shares changing hands.

A number of equities research analysts have weighed in on the company. Piper Jaffray Companies lifted their target price on Arrowhead Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Sunday, October 20th. ValuEngine lowered Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Chardan Capital lifted their target price on Arrowhead Pharmaceuticals from $32.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. BidaskClub raised Arrowhead Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, B. Riley lifted their target price on Arrowhead Pharmaceuticals from $46.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $44.20.

The stock has a 50-day simple moving average of $36.20 and a two-hundred day simple moving average of $29.27. The firm has a market capitalization of $4.29 billion, a P/E ratio of -72.98 and a beta of 1.68.

In other news, Director Michael S. Perry sold 85,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.00, for a total value of $2,550,000.00. Following the completion of the transaction, the director now directly owns 121,000 shares of the company’s stock, valued at approximately $3,630,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael S. Perry sold 100,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.90, for a total value of $2,890,000.00. Following the completion of the transaction, the director now directly owns 121,000 shares of the company’s stock, valued at $3,496,900. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 350,104 shares of company stock valued at $10,783,025. 4.80% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arlington Capital Management Inc. bought a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter worth $823,000. Mason Street Advisors LLC raised its position in shares of Arrowhead Pharmaceuticals by 2.2% in the 3rd quarter. Mason Street Advisors LLC now owns 32,360 shares of the biotechnology company’s stock worth $912,000 after acquiring an additional 711 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Arrowhead Pharmaceuticals by 2,008.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,453 shares of the biotechnology company’s stock worth $238,000 after acquiring an additional 8,052 shares in the last quarter. Alps Advisors Inc. bought a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter worth $348,000. Finally, SG Americas Securities LLC raised its position in shares of Arrowhead Pharmaceuticals by 239.1% in the 3rd quarter. SG Americas Securities LLC now owns 83,005 shares of the biotechnology company’s stock worth $2,339,000 after acquiring an additional 58,527 shares in the last quarter. 72.33% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Company Profile (NASDAQ:ARWR)

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.

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