Arrowhead Pharmaceuticals (NASDAQ:ARWR) Sets New 12-Month Low – What’s Next?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) hit a new 52-week low during trading on Monday . The stock traded as low as $18.14 and last traded at $18.22, with a volume of 323559 shares. The stock had previously closed at $18.82.

Analyst Upgrades and Downgrades

ARWR has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $45.33.

Arrowhead Pharmaceuticals Stock Down 1.0 %

The company has a fifty day simple moving average of $22.38 and a 200-day simple moving average of $24.38. The firm has a market cap of $2.22 billion, a P/E ratio of -4.24 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced 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 in the prior year, the company earned ($0.96) EPS. The company’s revenue was down 100.0% on a year-over-year basis. As a group, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

Institutional Trading of Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after acquiring an additional 1,731,974 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in shares of Arrowhead Pharmaceuticals by 3.9% during the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after acquiring an additional 333,333 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Arrowhead Pharmaceuticals by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock valued at $28,201,000 after acquiring an additional 30,086 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Arrowhead Pharmaceuticals by 136.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock valued at $32,496,000 after acquiring an additional 613,067 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Arrowhead Pharmaceuticals by 61.9% in the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after purchasing an additional 202,280 shares during the last quarter. 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.