Orion Investment Co acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund acquired 46,370 shares of the biotechnology company’s stock, valued at approximately $3,079,000. Arrowhead Pharmaceuticals comprises approximately 0.9% of Orion Investment Co’s holdings, making the stock its 29th biggest position.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Arrowhead Pharmaceuticals by 3,142.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock valued at $71,797,000 after purchasing an additional 2,017,489 shares during the last quarter. Norges Bank bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at $113,159,000. Deerfield Management Company L.P. bought a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at $34,249,000. Balyasny Asset Management L.P. bought a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at $27,349,000. Finally, Pictet Asset Management Holding SA increased its stake in shares of Arrowhead Pharmaceuticals by 253.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,028,736 shares of the biotechnology company’s stock valued at $68,636,000 after purchasing an additional 737,713 shares during the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on ARWR shares. Royal Bank Of Canada lifted their price target on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $100.00 in a research note on Tuesday, April 21st. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, March 25th. JPMorgan Chase & Co. started coverage on Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an “overweight” rating and a $88.00 price objective on the stock. Finally, Sanford C. Bernstein boosted their price objective on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.80.
Insiders Place Their Bets
In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total transaction of $228,333.60. Following the transaction, the director directly owned 52,012 shares of the company’s stock, valued at approximately $3,998,682.56. The trade was a 5.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total value of $934,328.25. Following the transaction, the chief financial officer directly owned 162,905 shares in the company, valued at $11,623,271.75. The trade was a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 26,065 shares of company stock valued at $1,912,662. 3.60% of the stock is currently owned by company insiders.
Arrowhead Pharmaceuticals Trading Up 1.1%
Shares of ARWR stock opened at $73.86 on Tuesday. The firm has a market capitalization of $10.40 billion, a P/E ratio of -34.35 and a beta of 1.28. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $14.30 and a twelve month high of $82.26. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. The stock’s fifty day simple moving average is $71.42 and its 200 day simple moving average is $65.94.
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. The business had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.Arrowhead Pharmaceuticals’s quarterly revenue was down 86.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.75 EPS. As a group, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3 EPS for the current fiscal year.
About Arrowhead Pharmaceuticals
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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