Arrowhead Pharmaceuticals (ARWR) Stock Price Down 7.6%
Shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) dropped 7.6% on Monday . The stock traded as low as $17.56 and last traded at $18.03. Approximately 1,574,609 shares changed hands during trading, an increase of 2% from the average daily volume of 1,550,894 shares. The stock had previously closed at $19.51.
ARWR has been the topic of several recent research reports. Chardan Capital restated a “buy” rating and set a $24.50 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, February 11th. BidaskClub upgraded Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Cantor Fitzgerald set a $24.00 price target on Arrowhead Pharmaceuticals and gave the company a “buy” rating in a report on Friday, April 12th. Piper Jaffray Companies increased their price target on Arrowhead Pharmaceuticals from $25.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, B. Riley increased their price target on Arrowhead Pharmaceuticals from $19.00 to $26.00 and gave the company a “buy” rating in a report on Monday. Seven analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $23.86.
The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -29.43 and a beta of 2.15.
In other Arrowhead Pharmaceuticals news, Director Douglas B. Given sold 65,000 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $19.25, for a total value of $1,251,250.00. Following the sale, the director now owns 175,130 shares in the company, valued at $3,371,252.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Richard Anzalone sold 50,000 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $19.30, for a total value of $965,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,000 shares of company stock worth $5,762,338. Insiders own 4.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ARWR. Bank of New York Mellon Corp increased its stake in Arrowhead Pharmaceuticals by 26.3% in the third quarter. Bank of New York Mellon Corp now owns 429,780 shares of the biotechnology company’s stock worth $8,239,000 after purchasing an additional 89,536 shares during the period. Man Group plc increased its stake in Arrowhead Pharmaceuticals by 47.5% in the third quarter. Man Group plc now owns 16,785 shares of the biotechnology company’s stock worth $322,000 after purchasing an additional 5,408 shares during the period. Teachers Advisors LLC increased its stake in Arrowhead Pharmaceuticals by 2.5% in the third quarter. Teachers Advisors LLC now owns 170,714 shares of the biotechnology company’s stock worth $3,273,000 after purchasing an additional 4,191 shares during the period. Vanguard Group Inc. grew its position in shares of Arrowhead Pharmaceuticals by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,951,381 shares of the biotechnology company’s stock worth $75,748,000 after buying an additional 10,273 shares in the last quarter. Finally, Federated Investors Inc. PA grew its position in shares of Arrowhead Pharmaceuticals by 316.4% during the 3rd quarter. Federated Investors Inc. PA now owns 117,200 shares of the biotechnology company’s stock worth $2,247,000 after buying an additional 89,055 shares in the last quarter. Institutional investors and hedge funds own 62.38% of the company’s stock.
About Arrowhead Pharmaceuticals (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.
Further Reading: Technical Analysis
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