State of Alaska Department of Revenue Has $354,000 Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

State of Alaska Department of Revenue cut its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,577 shares of the biotechnology company’s stock after selling 1,260 shares during the period. State of Alaska Department of Revenue’s holdings in Arrowhead Pharmaceuticals were worth $354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at $25,000. Pacer Advisors Inc. raised its holdings in Arrowhead Pharmaceuticals by 79.7% in the 4th quarter. Pacer Advisors Inc. now owns 16,119 shares of the biotechnology company’s stock valued at $493,000 after acquiring an additional 7,150 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at $1,339,000. Teachers Retirement System of The State of Kentucky raised its holdings in Arrowhead Pharmaceuticals by 101.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 34,942 shares of the biotechnology company’s stock valued at $939,000 after acquiring an additional 17,595 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its stake in shares of Arrowhead Pharmaceuticals by 42.2% in the 3rd quarter. Hudson Bay Capital Management LP now owns 160,000 shares of the biotechnology company’s stock valued at $4,299,000 after purchasing an additional 47,500 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 the company. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, February 8th. Citigroup lifted their price target on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Morgan Stanley lifted their price target on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Bank of America lifted their price target on Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.45.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $24.70 on Friday. The business’s 50-day moving average is $29.60 and its 200-day moving average is $29.02. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $20.67 and a 1 year high of $42.48. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -8.88 and a beta of 0.71.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.46). Arrowhead Pharmaceuticals had a negative return on equity of 90.77% and a negative net margin of 163.32%. The firm had revenue of $3.55 million for the quarter, compared to analyst estimates of $35.60 million. During the same period last year, the company posted ($0.39) earnings per share. The firm’s quarterly revenue was down 94.3% compared to the same quarter last year. Analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.7 EPS for the current year.

Insider Buying and Selling

In related news, Director Hongbo Lu acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was purchased at an average cost of $27.50 per share, with a total value of $27,500.00. Following the acquisition, the director now owns 33,680 shares of the company’s stock, valued at approximately $926,200. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the completion of the sale, the chief financial officer now directly owns 400,600 shares of the company’s stock, valued at approximately $14,097,114. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hongbo Lu acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were bought at an average cost of $27.50 per share, with a total value of $27,500.00. Following the completion of the acquisition, the director now directly owns 33,680 shares in the company, valued at approximately $926,200. The disclosure for this purchase can be found here. 4.50% of the stock is owned by company insiders.

Arrowhead Pharmaceuticals Company Profile

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.