Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 4.9% – Should You Sell?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares fell 4.9% on Wednesday . The company traded as low as $67.14 and last traded at $67.2220. 736,034 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 2,268,314 shares. The stock had previously closed at $70.67.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARWR. Morgan Stanley increased their target price on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 1st. Leerink Partners raised their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $99.15.

Arrowhead Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. The company has a market capitalization of $9.55 billion, a PE ratio of -30.06 and a beta of 1.28. The stock has a 50-day simple moving average of $83.85 and a 200 day simple moving average of $75.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The firm had revenue of $75.25 million during the quarter, compared to analysts’ expectations of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The company’s quarterly revenue was up 171.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.26) EPS. Equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.62 EPS for the current fiscal year.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director Adeoye Olukotun sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the transaction, the director directly owned 31,600 shares in the company, 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 SEC, which can be accessed through this link. Also, Director Michael Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the transaction, the director owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently bought and sold shares of ARWR. BlackRock Inc. acquired a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth $1,208,838,000. Geode Capital Management LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock valued at $216,799,000 after acquiring an additional 133,921 shares during the last quarter. Baker BROS. Advisors LP increased its position in Arrowhead Pharmaceuticals by 30.2% during the 4th quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock worth $144,441,000 after purchasing an additional 504,883 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Arrowhead Pharmaceuticals by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock valued at $138,619,000 after purchasing an additional 6,264 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in Arrowhead Pharmaceuticals by 497.4% in the 4th 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 last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc (NASDAQ:ARWR) is a biopharmaceutical company focused on developing medicines that silence disease-causing genes. The company uses RNA interference (RNAi), a biological process that reduces the production of specific proteins, to target conditions that may be difficult to treat with conventional drugs.

Arrowhead’s proprietary TRiM platform is designed to deliver RNAi-based therapies to different tissues, including the liver, lungs and other organs. Its investigational pipeline has included candidates for cardiovascular and metabolic diseases, liver disorders, pulmonary conditions and inflammatory diseases.