Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Down – Should You Sell?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) gapped down before the market opened on Monday. The stock had previously closed at $58.16, but opened at $52.49. Arrowhead Pharmaceuticals shares last traded at $48.6490, with a volume of 1,173,148 shares.

Analyst Upgrades and Downgrades

Several analysts recently commented on ARWR shares. Morgan Stanley lifted their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Royal Bank Of Canada restated an “outperform” rating and set a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 31st. Citigroup initiated coverage on Arrowhead Pharmaceuticals in a report on Tuesday, September 8th. They set a “buy” rating and a $108.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on Arrowhead Pharmaceuticals in a research report on Thursday, September 24th. They issued a “neutral” rating and a $74.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given 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, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.07.

Arrowhead Pharmaceuticals Stock Down 17.7%

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 stock has a market cap of $6.74 billion, a P/E ratio of -21.21 and a beta of 1.34. The firm has a 50-day simple moving average of $66.91 and a two-hundred day simple moving average of $71.48.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the completion of the sale, the director owned 111,459 shares in the company, valued at $9,730,370.70. The trade was a 9.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the sale, the director owned 31,600 shares of the company’s stock, valued at $2,747,936. This trade represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARWR. BlackRock Inc. bought a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at $1,208,838,000. Siren L.L.C. increased its position in shares of Arrowhead Pharmaceuticals by 7.7% in the first quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company’s stock worth $101,290,000 after purchasing an additional 115,000 shares during the period. Jupiter Topco LLC bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth $99,623,000. Janus Henderson Group PLC increased its position in shares of Arrowhead Pharmaceuticals by 12.2% in the first quarter. Janus Henderson Group PLC now owns 1,436,990 shares of the biotechnology company’s stock worth $90,119,000 after purchasing an additional 156,544 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Arrowhead Pharmaceuticals in the second quarter valued at about $70,061,000. 62.61% of the stock is owned by institutional investors.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals is a biotechnology company that develops medicines using RNA interference (RNAi), a biological process that can reduce the production of specific proteins by silencing the genes that encode them. Its proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi treatments to targeted tissues.

The company’s research and development programs address a range of conditions, including liver, cardiometabolic, pulmonary and neurological diseases. Its work centers on investigational medicines and drug-development partnerships.

Founded in 1989 as Arrowhead Research Corporation, the company adopted the name Arrowhead Pharmaceuticals in 2015.