Summitry LLC acquired a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,183 shares of the biotechnology company’s stock, valued at approximately $450,000.
Other hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Arrowhead Pharmaceuticals by 30.2% during the first quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after purchasing an additional 10,496 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 1st quarter valued at $514,000. Goldman Sachs Group Inc. increased its stake in Arrowhead Pharmaceuticals by 34.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after purchasing an additional 447,456 shares in the last quarter. Empowered Funds LLC raised its holdings in Arrowhead Pharmaceuticals by 6.9% during the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after buying an additional 979 shares during the period. Finally, Focus Partners Wealth raised its holdings in Arrowhead Pharmaceuticals by 1,339.5% during the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock worth $207,000 after buying an additional 15,123 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have commented on ARWR. Morgan Stanley raised their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Royal Bank Of Canada upped their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Weiss Ratings cut shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $96.92.
Insider Activity
In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the completion of the sale, the director owned 52,012 shares of the company’s stock, valued at $3,998,682.56. This trade represents a 5.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is owned by company insiders.
Arrowhead Pharmaceuticals Trading Down 3.1%
NASDAQ:ARWR opened at $84.65 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $15.01 and a fifty-two week high of $95.49. The stock’s 50-day moving average is $79.04 and its two-hundred day moving average is $70.67. The stock has a market cap of $11.92 billion, a PE ratio of -39.37 and a beta of 1.26.
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The business had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. During the same period in the prior year, the firm earned $2.75 earnings per share. The firm’s revenue was down 86.4% compared to the same quarter last year. As a group, equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.11 earnings per share for the current fiscal year.
Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.
The company’s pipeline includes multiple candidates in various stages of development.
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