MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 15.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 242,702 shares of the biotechnology company’s stock after acquiring an additional 33,238 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Arrowhead Pharmaceuticals were worth $4,562,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. grew its stake in Arrowhead Pharmaceuticals by 11.6% in the 4th quarter. Pacer Advisors Inc. now owns 27,918 shares of the biotechnology company’s stock valued at $525,000 after buying an additional 2,907 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $651,000. Empowered Funds LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $268,000. KLP Kapitalforvaltning AS purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $434,000. Finally, Norges Bank purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $38,622,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARWR has been the subject of a number of recent analyst reports. B. Riley restated a “buy” rating and set a $38.00 price target (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Citigroup reduced their price target on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.13.

Arrowhead Pharmaceuticals Stock Up 2.4%

Shares of NASDAQ:ARWR opened at $15.71 on Monday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $9.57 and a 52-week high of $30.41. The firm has a fifty day moving average of $13.30 and a 200 day moving average of $17.78. The firm has a market capitalization of $2.17 billion, a PE ratio of -3.04 and a beta of 0.89. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $2.81. The company had revenue of $542.71 million during the quarter, compared to the consensus estimate of $116.27 million. During the same period in the previous year, the company earned ($1.02) earnings per share. As a group, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 40,322 shares of the company’s stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $10.07, for a total value of $406,042.54. Following the sale, the chief executive officer now owns 4,022,055 shares in the company, valued at approximately $40,502,093.85. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 275,880 shares of company stock worth $4,034,037. 4.30% of the stock is currently owned by company insiders.

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.