Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Adeoye Y. Olukotun Sells 11,350 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Get Rating) Director Adeoye Y. Olukotun sold 11,350 shares of Arrowhead Pharmaceuticals stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $32.65, for a total value of $370,577.50. Following the completion of the transaction, the director now directly owns 7,867 shares of the company’s stock, valued at $256,857.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Arrowhead Pharmaceuticals Trading Down 4.8 %

Shares of ARWR stock opened at $30.79 on Tuesday. The company’s fifty day simple moving average is $34.64 and its 200-day simple moving average is $34.34. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $26.81 and a 52 week high of $51.11. The company has a market cap of $3.33 billion, a PE ratio of -20.95 and a beta of 1.05.

Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Rating) last released its quarterly earnings data on Monday, February 6th. The biotechnology company reported ($0.39) EPS for the quarter, missing the consensus estimate of $1.14 by ($1.53). Arrowhead Pharmaceuticals had a negative net margin of 54.31% and a negative return on equity of 34.73%. The company had revenue of $62.55 million during the quarter, compared to analysts’ expectations of $162.52 million. During the same period last year, the business earned ($0.60) earnings per share. The company’s revenue for the quarter was up 127.9% compared to the same quarter last year. Equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on ARWR. Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 10th. Morgan Stanley cut their target price on shares of Arrowhead Pharmaceuticals from $41.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 29th. Royal Bank of Canada cut their target price on shares of Arrowhead Pharmaceuticals from $83.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, February 7th. B. Riley lowered their price target on shares of Arrowhead Pharmaceuticals from $59.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 8th. Finally, SVB Leerink lowered their price target on shares of Arrowhead Pharmaceuticals from $33.00 to $31.00 and set a “market perform” rating for the company in a report on Tuesday, November 29th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $60.10.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank increased its position in shares of Arrowhead Pharmaceuticals by 2.4% during the third quarter. Amalgamated Bank now owns 73,081 shares of the biotechnology company’s stock worth $2,415,000 after acquiring an additional 1,724 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Arrowhead Pharmaceuticals by 2.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,382 shares of the biotechnology company’s stock worth $641,000 after acquiring an additional 506 shares during the last quarter. California Public Employees Retirement System increased its holdings in Arrowhead Pharmaceuticals by 14.4% in the third quarter. California Public Employees Retirement System now owns 234,142 shares of the biotechnology company’s stock valued at $7,738,000 after buying an additional 29,437 shares during the last quarter. Point72 Hong Kong Ltd increased its holdings in Arrowhead Pharmaceuticals by 3,242.0% in the third quarter. Point72 Hong Kong Ltd now owns 10,661 shares of the biotechnology company’s stock valued at $352,000 after buying an additional 10,342 shares during the last quarter. Finally, B. Riley Wealth Management Inc. bought a new stake in Arrowhead Pharmaceuticals in the second quarter valued at about $1,859,000. 65.46% of the stock is owned by hedge funds and other institutional investors.

About Arrowhead Pharmaceuticals

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Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the development of medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC.