Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Down – Here’s Why

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) gapped down before the market opened on Thursday . The stock had previously closed at $60.77, but opened at $56.02. Arrowhead Pharmaceuticals shares last traded at $59.9940, with a volume of 542,373 shares traded.

Analysts Set New Price Targets

ARWR has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Weiss Ratings upgraded Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, February 6th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. Bank of America lifted their target price on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Finally, Chardan Capital boosted their price target on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Arrowhead Pharmaceuticals Stock Down 4.9%

The firm’s 50-day moving average price is $62.87 and its 200-day moving average price is $53.44. The company has a market cap of $8.09 billion, a price-to-earnings ratio of 37.76 and a beta of 1.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.38 and a quick ratio of 3.38.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The business had revenue of $264.03 million for the quarter, compared to analyst estimates of $225.66 million. During the same quarter in the previous year, the firm posted ($1.39) EPS. The business’s revenue was up 10461.3% compared to the same quarter last year. Sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher Richard Anzalone sold 51,726 shares of the stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $69.13, for a total value of $3,575,818.38. Following the completion of the sale, the chief executive officer owned 3,805,926 shares in the company, valued at approximately $263,103,664.38. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James C. Hamilton sold 40,164 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $63.11, for a total value of $2,534,750.04. Following the sale, the insider owned 171,958 shares in the company, valued at approximately $10,852,269.38. The trade was a 18.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 164,570 shares of company stock worth $10,747,632 over the last quarter. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Arrowhead Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock valued at $553,077,000 after acquiring an additional 510,798 shares in the last quarter. Avoro Capital Advisors LLC lifted its position in shares of Arrowhead Pharmaceuticals by 2.8% during the third quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock worth $375,941,000 after purchasing an additional 300,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 4.3% in 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 purchasing an additional 133,921 shares during the period. Baker BROS. Advisors LP grew its holdings 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 valued at $144,441,000 after purchasing an additional 504,883 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Arrowhead Pharmaceuticals by 3,507.8% during the 2nd quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock valued at $34,065,000 after purchasing an additional 2,096,238 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.