Arrowhead Pharmaceuticals (NASDAQ:ARWR) Reaches New 1-Year Low at $20.04

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $20.04 and last traded at $20.04, with a volume of 484569 shares changing hands. The stock had previously closed at $20.45.

Analyst Upgrades and Downgrades

Several research analysts have commented on ARWR shares. The Goldman Sachs Group started coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price target for the company. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. Finally, B. Riley restated a “buy” rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Arrowhead Pharmaceuticals Price Performance

The stock has a market capitalization of $2.63 billion, a P/E ratio of -4.89 and a beta of 0.96. The stock has a 50 day moving average price of $24.92 and a 200-day moving average price of $25.47.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. The firm’s revenue was down 100.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.96) earnings per share. Research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value of $237,480.32. Following the transaction, the insider now owns 127,107 shares in the company, valued at $3,213,264.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ARWR. Quarry LP increased its holdings in Arrowhead Pharmaceuticals by 54.5% during the 2nd quarter. Quarry LP now owns 8,500 shares of the biotechnology company’s stock valued at $221,000 after purchasing an additional 3,000 shares during the period. Creative Planning increased its holdings in Arrowhead Pharmaceuticals by 9.4% during the 2nd quarter. Creative Planning now owns 28,276 shares of the biotechnology company’s stock valued at $735,000 after purchasing an additional 2,420 shares during the period. Algert Global LLC increased its holdings in Arrowhead Pharmaceuticals by 104.3% during the 2nd quarter. Algert Global LLC now owns 40,466 shares of the biotechnology company’s stock valued at $1,052,000 after purchasing an additional 20,656 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Arrowhead Pharmaceuticals by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 149,156 shares of the biotechnology company’s stock valued at $3,877,000 after purchasing an additional 1,677 shares during the period. Finally, Millennium Management LLC increased its holdings in Arrowhead Pharmaceuticals by 61.9% during the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after purchasing an additional 202,280 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.