Arrowhead Pharmaceuticals (NASDAQ:ARWR) Director Sells $173,920.00 in Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Adeoye Olukotun sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the transaction, the director owned 31,600 shares in the company, valued at $2,747,936. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arrowhead Pharmaceuticals Trading Down 0.4%

NASDAQ ARWR opened at $87.11 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $20.44 and a 12 month high of $95.49. The stock has a 50-day simple moving average of $82.84 and a 200 day simple moving average of $72.87. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $12.27 billion, a PE ratio of -38.72 and a beta of 1.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The company had revenue of $75.25 million for the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.Arrowhead Pharmaceuticals’s quarterly revenue was up 171.0% on a year-over-year basis. During the same quarter last year, the business posted ($1.26) EPS. Research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds have recently modified their holdings of ARWR. BlackRock Inc. bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $1,208,838,000. Geode Capital Management LLC increased its stake in Arrowhead Pharmaceuticals by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after purchasing an additional 133,921 shares in the last quarter. Baker BROS. Advisors LP raised 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 worth $144,441,000 after buying an additional 504,883 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Arrowhead Pharmaceuticals by 0.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock worth $138,619,000 after buying an additional 6,264 shares during the period. Finally, Fred Alger Management LLC lifted its stake in Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after buying an additional 1,526,164 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 17th. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. B. Riley Financial increased their target price on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Leerink Partners lifted their price target on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 17th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.33.

About Arrowhead Pharmaceuticals

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.