Arrowhead Pharmaceuticals (NASDAQ:ARWR) Reaches New 1-Year Low at $18.61

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) hit a new 52-week low during trading on Tuesday . The stock traded as low as $18.61 and last traded at $18.66, with a volume of 77258 shares trading hands. The stock had previously closed at $19.37.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ARWR. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. B. Riley restated a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. The Goldman Sachs Group assumed coverage on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $43.25.

Arrowhead Pharmaceuticals Trading Down 4.7 %

The business’s 50-day simple moving average is $23.57 and its 200-day simple moving average is $24.77. The company has a market cap of $2.29 billion, a PE ratio of -4.30 and a beta of 0.96.

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

Institutional Trading of Arrowhead Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Quarry LP raised its position in shares of Arrowhead Pharmaceuticals by 54.5% in the second 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 grew its position in shares of Arrowhead Pharmaceuticals by 9.4% in the second 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 last quarter. Algert Global LLC increased its stake in shares of Arrowhead Pharmaceuticals by 104.3% in the second quarter. Algert Global LLC now owns 40,466 shares of the biotechnology company’s stock worth $1,052,000 after purchasing an additional 20,656 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of 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 worth $3,877,000 after purchasing an additional 1,677 shares during the last quarter. Finally, Millennium Management LLC boosted its stake 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. 62.61% of the stock is owned by institutional investors.

About Arrowhead Pharmaceuticals

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.