Key Points
- Director Michael Perry sold 11,600 Arrowhead Pharmaceuticals shares at an average price of $87.30, generating $1.01 million and reducing his stake by 9.43% to 111,459 shares.
- Arrowhead reported quarterly revenue of $75.25 million, up 171% year over year and above estimates, but its adjusted loss of $1.36 per share missed consensus by $0.13.
- Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $97.33; institutional investors own 62.61% of the stock.
Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) Director Adeoye Olukotun sold 2,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the sale, the director directly owned 31,600 shares of the company's stock, valued at $2,747,936. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Arrowhead Pharmaceuticals Trading Down 2.2%
NASDAQ ARWR opened at $87.47 on Friday. The firm's 50-day moving average is $82.59 and its two-hundred day moving average is $72.77. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $19.82 and a 12 month high of $95.49. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. The stock has a market capitalization of $12.32 billion, a P/E ratio of -38.88 and a beta of 1.27.
Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its 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 return on equity of 60.06% and a negative net margin of 47.79%.The company had revenue of $75.25 million for the quarter, compared to analysts' expectations of $44.17 million. During the same period last year, the business earned ($1.26) EPS. The company's quarterly revenue was up 171.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.51 earnings per share for the current year.
Hedge Funds Weigh In On Arrowhead Pharmaceuticals
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its stake in Arrowhead Pharmaceuticals by 285.1% in the second quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company's stock worth $27,000 after acquiring an additional 248 shares during the last quarter. Carolina Wealth Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 80.6% during the 2nd 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 period. Tsfg LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $25,000. Optiver Holding B.V. grew its stake in shares of Arrowhead Pharmaceuticals by 83.8% in the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company's stock valued at $26,000 after purchasing an additional 186 shares during the last quarter. Finally, First Horizon Corp acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 62.61% of the company's stock.
Wall Street Analysts Forecast Growth
ARWR has been the subject of a number of research analyst reports. HC Wainwright increased their price objective 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. Sanford C. Bernstein boosted their target price on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Leerink Partners upped their price target on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 17th. Stifel Nicolaus initiated coverage on Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They set a "buy" rating and a $98.00 price target for the company. Finally, Piper Sandler reissued an "overweight" rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.33.
Check Out Our Latest Research Report on ARWR
Arrowhead Pharmaceuticals Company Profile
(
Get Free Report)
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.
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