Bailard Inc. decreased its position in Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) by 18.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 102,800 shares of the biotechnology company’s stock after selling 24,000 shares during the quarter. Bailard Inc. owned 0.11% of Arrowhead Pharmaceuticals worth $2,897,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in Arrowhead Pharmaceuticals by 96.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 500 shares during the last quarter. Sound Income Strategies LLC bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth about $34,000. Acadian Asset Management LLC bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth about $34,000. Mascoma Wealth Management LLC bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth about $46,000. Finally, Pearl River Capital LLC bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth about $111,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on ARWR shares. Robert W. Baird started coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 2nd. They set an “outperform” rating and a $39.00 price objective on the stock. B. Riley increased their price objective on shares of Arrowhead Pharmaceuticals from $32.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Cantor Fitzgerald reissued a “neutral” rating on shares of Arrowhead Pharmaceuticals in a report on Thursday. ValuEngine lowered shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BidaskClub raised shares of Arrowhead Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.50.
Arrowhead Pharmaceuticals stock opened at $35.95 on Monday. Arrowhead Pharmaceuticals Inc has a 1 year low of $10.41 and a 1 year high of $38.75. The company has a market cap of $3.47 billion, a PE ratio of 79.57 and a beta of 1.48. The company’s 50-day moving average is $30.92 and its two-hundred day moving average is $26.35.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.13). Arrowhead Pharmaceuticals had a net margin of 33.28% and a return on equity of 26.27%. The business had revenue of $42.70 million for the quarter, compared to analyst estimates of $59.05 million. On average, research analysts expect that Arrowhead Pharmaceuticals Inc will post 0.75 earnings per share for the current fiscal year.
In related news, Director Michael S. Perry sold 85,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $30.00, for a total value of $2,550,000.00. Following the sale, the director now directly owns 121,000 shares in the company, valued at approximately $3,630,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Richard Anzalone sold 56,325 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $31.83, for a total transaction of $1,792,824.75. Following the completion of the sale, the chief executive officer now owns 2,178,228 shares in the company, valued at $69,332,997.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,220 shares of company stock worth $9,235,464. Corporate insiders own 4.80% 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 pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.
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