Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) shares were down 7.9% on Wednesday following insider selling activity. The company traded as low as $13.82 and last traded at $14.10. Approximately 3,142,665 shares traded hands during mid-day trading, an increase of 74% from the average daily volume of 1,801,785 shares. The stock had previously closed at $15.31.
Specifically, CFO Kenneth Allen Myszkowski sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $14.01, for a total value of $280,200.00. Following the completion of the sale, the chief financial officer now owns 330,815 shares of the company’s stock, valued at $4,634,718.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher Richard Anzalone sold 164,834 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $14.45, for a total value of $2,381,851.30. Following the completion of the sale, the chief executive officer now directly owns 1,868,789 shares of the company’s stock, valued at approximately $27,004,001.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 284,834 shares of company stock valued at $4,107,051. Insiders own 4.60% of the company’s stock.
A number of equities research analysts have recently commented on the company. BidaskClub raised Arrowhead Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, August 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, August 8th. Piper Jaffray Companies lifted their price objective on Arrowhead Pharmaceuticals to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, May 8th. Finally, Chardan Capital lifted their price objective on Arrowhead Pharmaceuticals from $9.50 to $16.00 and gave the company a “buy” rating in a research report on Monday, July 2nd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $16.20.
The company has a quick ratio of 8.69, a current ratio of 8.69 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.30 billion, a PE ratio of -30.00 and a beta of 1.91.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.01. Arrowhead Pharmaceuticals had a negative return on equity of 59.39% and a negative net margin of 400.13%. The firm had revenue of $0.73 million during the quarter, compared to the consensus estimate of $0.62 million. analysts anticipate that Arrowhead Pharmaceuticals Inc will post -0.64 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of ARWR. Wells Fargo & Company MN grew its position in Arrowhead Pharmaceuticals by 237.3% during the fourth quarter. Wells Fargo & Company MN now owns 69,997 shares of the biotechnology company’s stock valued at $257,000 after acquiring an additional 49,246 shares during the period. Alps Advisors Inc. grew its position in Arrowhead Pharmaceuticals by 40.5% during the first quarter. Alps Advisors Inc. now owns 116,402 shares of the biotechnology company’s stock valued at $839,000 after acquiring an additional 33,546 shares during the period. Trexquant Investment LP purchased a new stake in Arrowhead Pharmaceuticals during the first quarter valued at about $139,000. Quantitative Systematic Strategies LLC purchased a new stake in Arrowhead Pharmaceuticals during the first quarter valued at about $100,000. Finally, Schwab Charles Investment Management Inc. grew its position in Arrowhead Pharmaceuticals by 46.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 273,042 shares of the biotechnology company’s stock valued at $1,969,000 after acquiring an additional 86,661 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.
About Arrowhead Pharmaceuticals (NASDAQ:ARWR)
Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. Its pre-clinical stage medicines include ARO-HBV to treat chronic hepatitis B virus infection; ARO-AAT for the treatment of liver disease associated with alpha-1 antitrypsin deficiency; ARO-APOC3 and ARO-ANG3 to treat hypertriglyceridemia; ARO-Lung1 for the treatment of an undisclosed pulmonary target; ARO-HIF2 to treat renal cell carcinoma; ARO-F12 for hereditary angioedema and thromboembolic disorders; and ARO-AMG1 for the treatment of an undisclosed genetically validated cardiovascular target.
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