Arrowhead Pharmaceuticals (NASDAQ:ARWR) Director Michael Perry Sells 11,600 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Michael Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total value of $1,012,680.00. Following the completion of the sale, the director directly owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. This trade represents a 9.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock traded down $1.94 during trading on Thursday, reaching $87.47. 896,837 shares of the company’s stock traded hands, compared to its average volume of 2,359,317. The firm’s 50-day moving average is $82.33 and its 200 day moving average is $72.64. The company has a market capitalization of $12.32 billion, a P/E ratio of -38.88 and a beta of 1.27. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $19.82 and a 1 year high of $95.49. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The company had revenue of $75.25 million during the quarter, compared to analysts’ expectations of $44.17 million. During the same quarter last year, the firm posted ($1.26) earnings per share. Arrowhead Pharmaceuticals’s revenue for the quarter was up 171.0% compared to the same quarter last year. Equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARWR. Piper Sandler reiterated an “overweight” rating and set a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. B. Riley Financial lifted their target price on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Stifel Nicolaus began coverage on shares of Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price target on the stock. Morgan Stanley raised their price objective on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, HC Wainwright upped their target price on shares of Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Carolina Wealth Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 80.6% in the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 154 shares during the last quarter. CWM LLC boosted its position in Arrowhead Pharmaceuticals by 1.4% during the 4th quarter. CWM LLC now owns 12,347 shares of the biotechnology company’s stock valued at $820,000 after buying an additional 168 shares during the period. First Horizon Corp increased its position in shares of Arrowhead Pharmaceuticals by 36.2% in the first quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 174 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Arrowhead Pharmaceuticals by 1.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company’s stock valued at $737,000 after acquiring an additional 178 shares during the last quarter. Finally, Optiver Holding B.V. boosted its holdings in shares of Arrowhead Pharmaceuticals by 83.8% during the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 186 shares during the period. 62.61% of the stock is currently owned by institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.