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.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Arrowhead Pharmaceuticals had a return on equity of 6.72% and a net margin of 10.09%. The company had revenue of $48.15 million for the quarter, compared to analyst estimates of $45.78 million. On average, equities analysts forecast that Arrowhead Pharmaceuticals Inc will post 1.06 earnings per share for the current year.

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.

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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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