Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Down 9% - Time to Sell?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) was down 9% during mid-day trading on Friday . The stock traded as low as $17.83 and last traded at $17.16. Approximately 654,873 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 1,566,423 shares. The stock had previously closed at $18.85.

Analysts Set New Price Targets

ARWR has been the topic of a number of research analyst reports. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. Wall Street Zen cut shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday. Citigroup lowered their target price on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Chardan Capital reissued a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $43.71.

Arrowhead Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 5.15 and a quick ratio of 5.15. The firm has a 50-day moving average price of $16.34 and a two-hundred day moving average price of $16.30. The firm has a market capitalization of $2.07 billion, a P/E ratio of -10.69, a P/E/G ratio of 19.71 and a beta of 0.93.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, topping the consensus estimate of ($0.06) by $2.81. The firm had revenue of $542.71 million for the quarter, compared to analyst estimates of $116.27 million. During the same period last year, the firm earned ($1.02) EPS. On average, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Institutional Trading of Arrowhead Pharmaceuticals

Large investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Arrowhead Pharmaceuticals by 138.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company's stock worth $60,962,000 after acquiring an additional 2,774,933 shares in the last quarter. Avoro Capital Advisors LLC increased its holdings in Arrowhead Pharmaceuticals by 25.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company's stock worth $208,889,000 after acquiring an additional 2,222,223 shares during the period. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $38,622,000. Vanguard Group Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company's stock valued at $168,201,000 after purchasing an additional 1,018,273 shares during the last quarter. Finally, Farallon Capital Management LLC bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth $11,821,000. Institutional investors 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.