Pinnacle Associates Ltd. boosted its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,267 shares of the biotechnology company’s stock after acquiring an additional 16,136 shares during the period. Pinnacle Associates Ltd.’s holdings in Arrowhead Pharmaceuticals were worth $12,191,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in ARWR. Carolina Wealth Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 80.6% in the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 154 shares during the last quarter. First Horizon Corp grew its position in shares of Arrowhead Pharmaceuticals by 36.2% during the 1st quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 174 shares during the period. Optiver Holding B.V. increased its stake in shares of Arrowhead Pharmaceuticals by 83.8% during the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 186 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Arrowhead Pharmaceuticals by 285.1% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 248 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Arrowhead Pharmaceuticals by 7.1% during the 2nd quarter. QRG Capital Management Inc. now owns 4,810 shares of the biotechnology company’s stock worth $392,000 after purchasing an additional 317 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.
Arrowhead Pharmaceuticals Price Performance
NASDAQ ARWR opened at $58.84 on Thursday. The company has a market cap of $8.29 billion, a PE ratio of -26.15 and a beta of 1.29. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $36.73 and a 52 week high of $95.49. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. The firm’s 50-day simple moving average is $73.73 and its two-hundred day simple moving average is $75.90.
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The business had revenue of $75.25 million for the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%. Arrowhead Pharmaceuticals’s revenue for the quarter was up 171.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.26) EPS. Research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.62 earnings per share for the current year.
Insider Activity at Arrowhead Pharmaceuticals
In other news, Director Michael Perry sold 11,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the sale, the director owned 111,459 shares of the company’s stock, valued at $9,730,370.70. The trade was a 9.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Adeoye Olukotun sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the sale, the director owned 31,600 shares in the company, valued at $2,747,936. The trade was a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.60% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. JPMorgan Chase & Co. increased their price objective on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Chardan Capital reissued a “buy” rating and set a $115.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, October 15th. Stifel Nicolaus began coverage on Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They issued a “buy” rating and a $98.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $120.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.07.
View Our Latest Stock Report on Arrowhead Pharmaceuticals
About Arrowhead Pharmaceuticals
Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes using RNA interference (RNAi). The company’s proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi-based therapies to specific tissues and reduce the production of targeted proteins.
Arrowhead’s research and development programs address a range of conditions, including cardiometabolic, pulmonary, liver, and central nervous system diseases.
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