Arrowhead Pharmaceuticals (NASDAQ:ARWR) Sets New 1-Year Low at $19.38

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $19.38 and last traded at $19.42, with a volume of 900323 shares changing hands. The stock had previously closed at $20.14.

Analyst Ratings Changes

A number of brokerages have commented on ARWR. The Goldman Sachs Group began coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 target price for the company. Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. B. Riley reissued a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Finally, StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $44.25.

Arrowhead Pharmaceuticals Price Performance

The firm’s 50-day moving average price is $24.27 and its 200 day moving average price is $25.02. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -4.74 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) 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 business’s quarterly revenue was down 100.0% on a year-over-year basis. On average, analysts predict that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider Tracie Oliver sold 9,394 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the transaction, the insider now owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ARWR. Vanguard Group Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after purchasing an additional 1,731,974 shares during the last quarter. Avoro Capital Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after acquiring an additional 333,333 shares during the last quarter. Norges Bank acquired a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at $40,451,000. Capital International Investors grew its position in Arrowhead Pharmaceuticals by 55.2% during the fourth quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock valued at $39,093,000 after acquiring an additional 454,631 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Arrowhead Pharmaceuticals by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after purchasing an additional 30,086 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.