Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 52-Week Low – Here’s Why

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $14.10 and last traded at $14.18, with a volume of 288286 shares traded. The stock had previously closed at $14.73.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Sanford C. Bernstein decreased their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, November 29th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. Finally, Piper Sandler reduced their target price on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $41.44.

Arrowhead Pharmaceuticals Price Performance

The stock has a market capitalization of $1.91 billion, a P/E ratio of -2.69 and a beta of 0.92. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09. The firm has a fifty day moving average price of $18.45 and a two-hundred day moving average price of $19.76.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). As a group, analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Adeoye Y. Olukotun sold 2,850 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $20.00, for a total transaction of $57,000.00. Following the completion of the sale, the director now owns 36,740 shares of the company’s stock, valued at approximately $734,800. The trade was a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher Richard Anzalone sold 11,520 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $19.05, for a total value of $219,456.00. Following the completion of the sale, the chief executive officer now owns 3,764,252 shares of the company’s stock, valued at approximately $71,709,000.60. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 289,167 shares of company stock worth $5,106,735 in the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARWR. Avoro Capital Advisors LLC raised its stake in Arrowhead Pharmaceuticals by 25.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock worth $208,889,000 after acquiring an additional 2,222,223 shares during the period. State Street Corp lifted its stake in shares of Arrowhead Pharmaceuticals by 8.8% during the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after buying an additional 516,569 shares in the last quarter. Slate Path Capital LP lifted its stake in shares of Arrowhead Pharmaceuticals by 7.1% during the 4th quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company’s stock valued at $98,362,000 after buying an additional 347,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Arrowhead Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after buying an additional 26,171 shares during the period. Finally, Norges Bank purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth $38,622,000. 62.61% of the stock is currently owned by institutional investors.

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.