Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Sees Significant Decline in Short Interest

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 8,650,000 shares, a decrease of 17.2% from the August 15th total of 10,450,000 shares. Based on an average daily trading volume, of 1,020,000 shares, the short-interest ratio is currently 8.5 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARWR. B. Riley reissued a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Chardan Capital reissued a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. HC Wainwright reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 target price on the stock. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Arrowhead Pharmaceuticals Trading Down 4.8 %

Shares of NASDAQ:ARWR opened at $20.45 on Tuesday. The company has a 50 day moving average of $25.25 and a 200-day moving average of $25.70. The firm has a market cap of $2.54 billion, a P/E ratio of -4.81 and a beta of 0.96. Arrowhead Pharmaceuticals has a twelve month low of $20.14 and a twelve month high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. The firm’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period last year, the company earned ($0.96) earnings per share. Equities research analysts forecast that Arrowhead Pharmaceuticals will post -4.31 EPS for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total transaction of $237,480.32. Following the sale, the insider now directly owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth about $443,000. BNP Paribas Financial Markets lifted its position in Arrowhead Pharmaceuticals by 13.6% in the 4th quarter. BNP Paribas Financial Markets now owns 243,605 shares of the biotechnology company’s stock worth $7,454,000 after buying an additional 29,124 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Arrowhead Pharmaceuticals by 12.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,714 shares of the biotechnology company’s stock valued at $279,000 after buying an additional 952 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $309,000. Finally, Norges Bank purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $40,451,000. 62.61% of the stock is owned by institutional investors.

Arrowhead Pharmaceuticals Company Profile

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.