Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Down - Time to Sell?

Key Points

• Arrowhead Pharmaceuticals (NASDAQ:ARWR) saw its shares open significantly lower at $18.69, down from a previous close of $19.99, indicative of a 6.6% decline in trading.
• The company missed earnings expectations, reporting an EPS of ($1.26), which was below the consensus estimate of ($0.94), alongside revenue of $27.77 million compared to expectations of $29.01 million.
• Analyst ratings show a mix of sentiment with three hold ratings, five buy ratings, and two strong buy ratings, resulting in an overall average rating of "Moderate Buy" and a target price of about $43.14.

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $19.99, but opened at $18.69. Arrowhead Pharmaceuticals shares last traded at $18.45, with a volume of 1,052,098 shares traded.

Analyst Ratings Changes

ARWR has been the topic of several analyst reports. TD Cowen raised shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research report on Monday, July 28th. Wall Street Zen cut shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Royal Bank Of Canada cut their target price on shares of Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. B. Riley upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday. Finally, Chardan Capital restated a "buy" rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.14.

Arrowhead Pharmaceuticals Trading Down 6.6%

The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87. The firm has a market capitalization of $2.58 billion, a P/E ratio of -14.63 and a beta of 0.94. The business's 50-day moving average is $16.59 and its 200 day moving average is $15.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The business had revenue of $27.77 million for the quarter, compared to analysts' expectations of $29.01 million. During the same quarter in the prior year, the company posted ($1.38) earnings per share. As a group, analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 297.6% in the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 1,628 shares in the last quarter. Virtus Advisers LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $34,000. Nisa Investment Advisors LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 75.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 1,308 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $49,000. Finally, CWM LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 134.3% in the 1st quarter. CWM LLC now owns 4,401 shares of the biotechnology company's stock valued at $56,000 after purchasing an additional 2,523 shares in the last quarter. 62.61% of the stock is owned by institutional investors.

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.

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