Arrowhead Pharmaceuticals (NASDAQ:ARWR) Sets New 12-Month Low at $20.04

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $20.04 and last traded at $20.04, with a volume of 484569 shares trading hands. The stock had previously closed at $20.45.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ARWR. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Thursday, August 1st. B. Riley restated a “buy” rating and issued a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. Chardan Capital reissued a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.25.

Arrowhead Pharmaceuticals Stock Performance

The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -4.83 and a beta of 0.96. The company has a 50-day simple moving average of $25.15 and a two-hundred day simple moving average of $25.61.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. During the same quarter in the prior year, the business earned ($0.96) EPS. Arrowhead Pharmaceuticals’s quarterly revenue was down 100.0% on a year-over-year basis. As a group, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, insider Tracie Oliver sold 9,394 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value of $237,480.32. Following the sale, the insider now owns 127,107 shares in the company, valued at $3,213,264.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp boosted its holdings in shares of Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after buying an additional 354 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth approximately $41,000. Quest Partners LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $45,000. Headlands Technologies LLC grew its position in shares of Arrowhead Pharmaceuticals by 7,696.8% in the first quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 2,386 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Arrowhead Pharmaceuticals by 4,629.2% during the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 3,333 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.