Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Down Following Weak Earnings

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $19.92, but opened at $18.23. Arrowhead Pharmaceuticals shares last traded at $19.18, with a volume of 183,105 shares traded.

The biotechnology company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97).

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ARWR shares. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. Piper Sandler dropped their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, January 23rd. Finally, Sanford C. Bernstein dropped their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.33.

Insider Activity

In related news, CEO Christopher Richard Anzalone sold 26,712 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.24, for a total transaction of $567,362.88. Following the transaction, the chief executive officer now owns 3,688,335 shares in the company, valued at $78,340,235.40. The trade was a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Waddill sold 3,748 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the transaction, the director now owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. The trade was a 7.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,432 shares of company stock valued at $2,957,986. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. World Investment Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 3.8% in the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock worth $371,000 after buying an additional 700 shares during the last quarter. Xponance Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 4.5% in the fourth quarter. Xponance Inc. now owns 17,400 shares of the biotechnology company’s stock worth $327,000 after acquiring an additional 744 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 788 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Arrowhead Pharmaceuticals by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after purchasing an additional 886 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Arrowhead Pharmaceuticals by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock worth $279,000 after purchasing an additional 980 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Down 5.2 %

The company has a market capitalization of $2.36 billion, a PE ratio of -3.76 and a beta of 0.95. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The company’s 50-day moving average is $20.23 and its 200 day moving average is $21.25.

About Arrowhead Pharmaceuticals

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.