Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 6.4% – What’s Next?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price traded down 6.4% during mid-day trading on Wednesday . The company traded as low as $24.16 and last traded at $24.39. 1,014,398 shares were traded during trading, a decline of 20% from the average session volume of 1,260,170 shares. The stock had previously closed at $26.07.

Analysts Set New Price Targets

ARWR has been the topic of several research reports. Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Citigroup reduced their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Wednesday, November 27th. Finally, B. Riley restated a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

Arrowhead Pharmaceuticals Price Performance

The firm has a market capitalization of $2.88 billion, a PE ratio of -4.80 and a beta of 0.91. The company has a fifty day moving average price of $20.40 and a two-hundred day moving average price of $23.24. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06.

Institutional Trading of Arrowhead Pharmaceuticals

A number of large investors have recently bought and sold shares of ARWR. Franklin Resources Inc. raised its stake in shares of Arrowhead Pharmaceuticals by 9.4% during the third quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company’s stock worth $373,000 after purchasing an additional 1,658 shares during the last quarter. World Investment Advisors LLC lifted its holdings 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 valued at $371,000 after buying an additional 700 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after buying an additional 26,171 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Arrowhead Pharmaceuticals in the third quarter valued at approximately $345,000. Finally, Wellington Management Group LLP grew its holdings in Arrowhead Pharmaceuticals by 1.5% during the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after acquiring an additional 886 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.