Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 12-Month Low – Here’s Why

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) reached a new 52-week low during trading on Monday . The company traded as low as $16.26 and last traded at $16.43, with a volume of 68011 shares changing hands. The stock had previously closed at $16.97.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. Citigroup lowered their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Sanford C. Bernstein lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Finally, Piper Sandler lowered their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Hold” and an average target price of $41.44.

Arrowhead Pharmaceuticals Stock Performance

The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The business has a 50 day simple moving average of $19.24 and a two-hundred day simple moving average of $20.35. The firm has a market cap of $1.90 billion, a PE ratio of -2.91 and a beta of 0.92.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). As a group, equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider James C. Hamilton sold 32,729 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $648,688.78. Following the transaction, the insider now owns 272,122 shares in the company, valued at approximately $5,393,458.04. This trade represents a 10.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher Richard Anzalone sold 133,333 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $17.02, for a total value of $2,269,327.66. Following the transaction, the chief executive officer now owns 3,773,802 shares in the company, valued at approximately $64,230,110.04. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 280,765 shares of company stock worth $5,227,313 over the last quarter. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $38,000. GF Fund Management CO. LTD. purchased a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at about $49,000. Van ECK Associates Corp grew its stake in Arrowhead Pharmaceuticals by 72.3% in the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 1,250 shares during the last quarter. KBC Group NV grew its stake in Arrowhead Pharmaceuticals by 45.9% in the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at about $137,000. Hedge funds and other 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.