Arrowhead Pharmaceuticals (NASDAQ:ARWR) Reaches New 52-Week Low – Here’s What Happened

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) hit a new 52-week low during trading on Monday . The company traded as low as $9.57 and last traded at $9.63, with a volume of 217226 shares trading hands. The stock had previously closed at $10.68.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $38.00 price target (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.44.

Arrowhead Pharmaceuticals Stock Down 5.1 %

The stock has a market cap of $1.39 billion, a P/E ratio of -1.98 and a beta of 0.99. The stock’s fifty day simple moving average is $17.31 and its 200-day simple moving average is $19.30. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.97). On average, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, CEO Christopher Richard Anzalone sold 51,425 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $15.07, for a total value of $774,974.75. Following the completion of the transaction, the chief executive officer now directly owns 4,062,377 shares in the company, valued at $61,220,021.39. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 185,717 shares of company stock worth $3,064,441 in the last three months. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ARWR. Avoro Capital Advisors LLC raised its position in Arrowhead Pharmaceuticals by 25.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock valued at $208,889,000 after buying an additional 2,222,223 shares during the period. Norges Bank acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $38,622,000. Farallon Capital Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth approximately $11,821,000. Two Sigma Investments LP boosted its holdings in shares of Arrowhead Pharmaceuticals by 281.3% during the fourth quarter. Two Sigma Investments LP now owns 794,373 shares of the biotechnology company’s stock worth $14,934,000 after purchasing an additional 586,062 shares during the period. Finally, State Street Corp grew its position in Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after purchasing an additional 516,569 shares in the last quarter. 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.