Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 7% – What’s Next?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares were down 7% during mid-day trading on Friday . The company traded as low as $78.52 and last traded at $78.0850. 353,765 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,459,007 shares. The stock had previously closed at $84.00.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 1st. JPMorgan Chase & Co. started coverage on shares of Arrowhead Pharmaceuticals in a research note on Friday, May 1st. They issued an “overweight” rating and a $88.00 price objective on the stock. Leerink Partners lifted their price objective on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, June 17th. Chardan Capital reissued a “buy” rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, June 30th. Finally, Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $78.00 to $100.00 in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $87.27.

Arrowhead Pharmaceuticals Price Performance

The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41. The business has a 50-day moving average of $77.79 and a 200 day moving average of $69.34. The firm has a market capitalization of $10.93 billion, a PE ratio of -36.02 and a beta of 1.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The business had revenue of $73.74 million for the quarter, compared to analysts’ expectations of $73.84 million. During the same period in the previous year, the company earned $2.75 earnings per share. The firm’s revenue for the quarter was down 86.4% compared to the same quarter last year. As a group, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3 EPS for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu sold 2,970 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total value of $228,333.60. Following the sale, the director owned 52,012 shares of the company’s stock, valued at $3,998,682.56. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total value of $934,328.25. Following the sale, the chief financial officer directly owned 162,905 shares in the company, valued at $11,623,271.75. This trade represents a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 26,065 shares of company stock worth $1,912,662. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Carolina Wealth Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 80.6% during the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 154 shares in the last quarter. CWM LLC grew its stake in Arrowhead Pharmaceuticals by 1.4% in the 4th quarter. CWM LLC now owns 12,347 shares of the biotechnology company’s stock worth $820,000 after buying an additional 168 shares in the last quarter. First Horizon Corp grew its stake in Arrowhead Pharmaceuticals by 36.2% in the 1st quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock worth $41,000 after buying an additional 174 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Arrowhead Pharmaceuticals by 1.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company’s stock worth $737,000 after buying an additional 178 shares during the last quarter. Finally, Optiver Holding B.V. raised its position in shares of Arrowhead Pharmaceuticals by 83.8% during the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 186 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

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.