Mirae Asset Global Investments Co. Ltd. Lowers Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Mirae Asset Global Investments Co. Ltd. decreased its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 34.3% during the 4th quarter, Holdings Channel reports. The fund owned 195,985 shares of the biotechnology company’s stock after selling 102,385 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Arrowhead Pharmaceuticals were worth $5,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors lifted its stake in shares of Arrowhead Pharmaceuticals by 22.4% in the second quarter. Captrust Financial Advisors now owns 1,201 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 220 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 94.6% in the first quarter. Advisors Asset Management Inc. now owns 720 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Arrowhead Pharmaceuticals by 1.4% in the first quarter. Thrivent Financial for Lutherans now owns 28,584 shares of the biotechnology company’s stock valued at $726,000 after purchasing an additional 390 shares during the period. Fifth Third Bancorp lifted its stake in shares of Arrowhead Pharmaceuticals by 112.0% in the third quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 522 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 37.3% in the first quarter. Lazard Asset Management LLC now owns 1,927 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 524 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ARWR shares. Citigroup raised their price objective on shares of 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 target price on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Bank of America lifted their target price on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada restated an “outperform” rating and set a $50.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 7th. Finally, HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $53.45.

Arrowhead Pharmaceuticals Stock Down 3.8 %

ARWR opened at $24.70 on Monday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $20.67 and a 52-week high of $42.48. The company has a 50 day moving average of $29.60 and a two-hundred day moving average of $29.04. The company has a market cap of $3.06 billion, a P/E ratio of -8.88 and a beta of 0.71.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $3.55 million for the quarter, compared to analysts’ expectations of $35.60 million. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. Arrowhead Pharmaceuticals’s quarterly revenue was down 94.3% compared to the same quarter last year. Research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.7 earnings per share for the current year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the transaction, the chief financial officer now directly owns 400,600 shares of the company’s stock, valued at $14,097,114. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Hongbo Lu purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were purchased 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 of the company’s stock, valued at approximately $926,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Allen Myszkowski sold 40,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were 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 in the company, valued at $14,097,114. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.

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.