Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Down – Should You Sell?

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) gapped down before the market opened on Thursday . The stock had previously closed at $60.77, but opened at $56.02. Arrowhead Pharmaceuticals shares last traded at $59.9940, with a volume of 542,373 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Piper Sandler reissued an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. Bank of America raised their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. The Goldman Sachs Group boosted their price objective on shares of Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Finally, Morgan Stanley raised their target price on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.67.

Arrowhead Pharmaceuticals Price Performance

The firm has a market capitalization of $8.53 billion, a PE ratio of 39.83 and a beta of 1.23. The firm’s fifty day moving average price is $63.10 and its 200 day moving average price is $53.18. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a return on equity of 35.64% and a net margin of 18.54%.The business had revenue of $264.03 million for the quarter, compared to analysts’ expectations of $225.66 million. During the same period last year, the business earned ($1.39) EPS. The company’s revenue for the quarter was up 10461.3% on a year-over-year basis. As a group, equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In other news, insider James C. Hamilton sold 40,164 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $63.11, for a total value of $2,534,750.04. Following the completion of the transaction, the insider owned 171,958 shares of the company’s stock, valued at $10,852,269.38. The trade was a 18.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher Richard Anzalone sold 51,726 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $69.13, for a total value of $3,575,818.38. Following the completion of the sale, the chief executive officer owned 3,805,926 shares in the company, valued at $263,103,664.38. The trade was a 1.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 172,100 shares of company stock worth $11,274,732. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ARWR. Tsfg LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at $25,000. iSAM Funds UK Ltd purchased a new position in Arrowhead Pharmaceuticals in the third quarter valued at $29,000. First Horizon Corp acquired a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth about $32,000. Virtus Advisers LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth about $34,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.