Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 3% – What’s Next?

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) fell 3% on Thursday . The stock traded as low as $37.14 and last traded at $37.7940. 579,759 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 2,024,411 shares. The stock had previously closed at $38.97.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ARWR shares. Royal Bank Of Canada raised their price target on shares of Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley boosted their target price on shares of Arrowhead Pharmaceuticals from $29.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 12th. Piper Sandler lifted their target price on Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday. Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. Finally, TD Cowen raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $48.22.

Arrowhead Pharmaceuticals Price Performance

The firm has a fifty day moving average of $36.56 and a two-hundred day moving average of $24.28. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $5.34 billion, a PE ratio of -30.08 and a beta of 1.27.

Insider Buying and Selling

In related news, insider James C. Hamilton sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $35.00, for a total transaction of $700,000.00. Following the completion of the sale, the insider directly owned 212,122 shares in the company, valued at $7,424,270. This represents a 8.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have sold 50,000 shares of company stock worth $1,525,000. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Arrowhead Pharmaceuticals by 138.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company’s stock worth $60,962,000 after buying an additional 2,774,933 shares during the period. Marshall Wace LLP lifted its position in shares of Arrowhead Pharmaceuticals by 3,507.8% in the 2nd quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock worth $34,065,000 after purchasing an additional 2,096,238 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Arrowhead Pharmaceuticals by 3,142.5% during the 3rd 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 in the last quarter. Norges Bank bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at approximately $30,414,000. Finally, Vanguard Group Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company’s stock worth $168,201,000 after acquiring an additional 1,018,273 shares during the period. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

About Arrowhead Pharmaceuticals

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.