Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Down Following Insider Selling

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Shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $75.10, but opened at $68.66. Arrowhead Pharmaceuticals shares last traded at $66.46, with a volume of 6,593,573 shares changing hands.

Specifically, Director Michael S. Perry sold 100,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.90, for a total transaction of $2,890,000.00. Following the completion of the sale, the director now directly owns 121,000 shares of the company’s stock, valued at $3,496,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher Richard Anzalone sold 66,645 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $28.20, for a total value of $1,879,389.00. Following the sale, the chief executive officer now directly owns 2,146,153 shares of the company’s stock, valued at $60,521,514.60. The disclosure for this sale can be found here. Insiders sold 388,071 shares of company stock worth $13,408,443 over the last quarter. 4.80% of the stock is currently owned by insiders.

ARWR has been the subject of several recent research reports. B. Riley reaffirmed a “buy” rating and set a $83.00 price target (up from $59.00) on shares of Arrowhead Pharmaceuticals in a report on Wednesday, November 27th. Robert W. Baird raised Arrowhead Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $39.00 to $70.00 in a report on Monday, November 25th. S&P Equity Research reaffirmed a “buy” rating on shares of Arrowhead Pharmaceuticals in a report on Tuesday, November 26th. ValuEngine downgraded Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target (up from $24.00) on shares of Arrowhead Pharmaceuticals in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Arrowhead Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $71.20.

The company has a 50-day simple moving average of $47.10 and a 200-day simple moving average of $33.10. The stock has a market cap of $6.99 billion, a PE ratio of 96.32 and a beta of 1.98.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Monday, November 25th. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.03). The business had revenue of $43.29 million during the quarter, compared to analysts’ expectations of $36.97 million. Arrowhead Pharmaceuticals had a return on equity of 32.30% and a net margin of 40.27%. As a group, equities research analysts forecast that Arrowhead Pharmaceuticals Inc will post -0.29 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Arrowhead Pharmaceuticals by 94.5% in the second quarter. BlackRock Inc. now owns 14,841,966 shares of the biotechnology company’s stock worth $393,313,000 after acquiring an additional 7,210,892 shares in the last quarter. Vanguard Group Inc. raised its position in Arrowhead Pharmaceuticals by 75.4% in the second quarter. Vanguard Group Inc. now owns 8,637,838 shares of the biotechnology company’s stock worth $228,903,000 after acquiring an additional 3,712,392 shares in the last quarter. State Street Corp raised its position in Arrowhead Pharmaceuticals by 3.3% in the third quarter. State Street Corp now owns 4,884,636 shares of the biotechnology company’s stock worth $137,649,000 after acquiring an additional 157,101 shares in the last quarter. Invesco Ltd. raised its position in Arrowhead Pharmaceuticals by 550.5% in the second quarter. Invesco Ltd. now owns 4,820,607 shares of the biotechnology company’s stock worth $127,747,000 after acquiring an additional 4,079,523 shares in the last quarter. Finally, Vivo Capital LLC raised its position in Arrowhead Pharmaceuticals by 18.8% in the second quarter. Vivo Capital LLC now owns 2,765,153 shares of the biotechnology company’s stock worth $73,277,000 after acquiring an additional 436,678 shares in the last quarter. Hedge funds and other institutional investors own 68.75% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile (NASDAQ:ARWR)

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.

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