Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) Director Victoria Vakiener sold 1,799 shares of the company's stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $41,934.69. Following the transaction, the director now owns 30,205 shares in the company, valued at approximately $704,078.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Arrowhead Pharmaceuticals Stock Performance
NASDAQ:ARWR opened at $25.16 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $20.67 and a 52 week high of $41.36. The firm has a 50-day moving average price of $27.23 and a two-hundred day moving average price of $28.75. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -9.05 and a beta of 0.78.
Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.46). The business had revenue of $3.55 million for the quarter, compared to the consensus estimate of $35.60 million. Arrowhead Pharmaceuticals had a negative return on equity of 90.77% and a negative net margin of 163.32%. The business's revenue was down 94.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.39) earnings per share. As a group, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.7 earnings per share for the current year.
Institutional Investors Weigh In On Arrowhead Pharmaceuticals
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A number of hedge funds have recently made changes to their positions in ARWR. FMR LLC increased its holdings in Arrowhead Pharmaceuticals by 58.2% during the third quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company's stock worth $115,780,000 after buying an additional 1,584,425 shares during the last quarter. Invesco Ltd. increased its stake in shares of Arrowhead Pharmaceuticals by 9.6% during the 3rd quarter. Invesco Ltd. now owns 2,443,038 shares of the biotechnology company's stock worth $65,644,000 after purchasing an additional 214,618 shares during the last quarter. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth approximately $40,451,000. Capital International Investors lifted its stake in Arrowhead Pharmaceuticals by 55.2% in the fourth quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company's stock valued at $39,093,000 after purchasing an additional 454,631 shares during the last quarter. Finally, Avoro Capital Advisors LLC grew its holdings in Arrowhead Pharmaceuticals by 100.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 1,130,000 shares of the biotechnology company's stock valued at $34,578,000 after purchasing an additional 565,000 shares during the period. 62.61% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ARWR has been the topic of a number of research reports. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, February 8th. Morgan Stanley upped their target price on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $50.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 7th. Finally, Citigroup raised their price objective on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a "neutral" rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.80.
View Our Latest Report on Arrowhead Pharmaceuticals
About Arrowhead Pharmaceuticals
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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.
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