Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 6.4% – Should You Sell?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares fell 6.4% during mid-day trading on Monday . The company traded as low as $19.83 and last traded at $19.83. 179,950 shares changed hands during trading, a decline of 85% from the average session volume of 1,216,828 shares. The stock had previously closed at $21.18.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Finally, Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $45.33.

Arrowhead Pharmaceuticals Stock Down 2.3 %

The company has a 50 day simple moving average of $21.26 and a 200-day simple moving average of $23.83. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -4.69 and a beta of 0.95.

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). The firm’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.96) earnings per share. On average, equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Arrowhead Pharmaceuticals by 16.2% in the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after buying an additional 1,731,974 shares during the last quarter. Avoro Capital Advisors LLC boosted its stake in 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 valued at $231,022,000 after purchasing an additional 333,333 shares during the period. Bank of New York Mellon Corp grew its position in Arrowhead Pharmaceuticals by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after purchasing an additional 30,086 shares during the last quarter. Millennium Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 61.9% in the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after purchasing an additional 202,280 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 17.5% during the first quarter. Principal Financial Group Inc. now owns 484,120 shares of the biotechnology company’s stock valued at $13,846,000 after buying an additional 72,273 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.