Arizona State Retirement System Reduces Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Arizona State Retirement System decreased its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,467 shares of the biotechnology company’s stock after selling 449 shares during the quarter. Arizona State Retirement System’s holdings in Arrowhead Pharmaceuticals were worth $871,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Arrowhead Pharmaceuticals by 351.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,429 shares of the biotechnology company’s stock worth $380,000 after purchasing an additional 9,676 shares during the last quarter. Washington Trust Advisors Inc. purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $25,000. Pacer Advisors Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 79.7% during the fourth quarter. Pacer Advisors Inc. now owns 16,119 shares of the biotechnology company’s stock worth $493,000 after purchasing an additional 7,150 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $1,339,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Arrowhead Pharmaceuticals by 101.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 34,942 shares of the biotechnology company’s stock worth $939,000 after buying an additional 17,595 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Insider Activity

In other news, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred 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 approximately $14,097,114. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred 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 approximately $14,097,114. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Hongbo Lu purchased 1,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Monday, March 18th. The shares were bought at an average price of $27.49 per share, with a total value of $27,490.00. Following the completion of the transaction, the director now owns 31,680 shares in the company, valued at approximately $870,883.20. The disclosure for this purchase can be found here. Insiders own 4.50% of the company’s stock.

Arrowhead Pharmaceuticals Stock Down 1.4 %

Shares of NASDAQ:ARWR opened at $23.67 on Wednesday. The company has a market cap of $2.93 billion, a P/E ratio of -8.51 and a beta of 0.71. 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 price of $29.25 and a 200 day moving average price of $28.99.

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

Analyst Ratings Changes

ARWR has been the subject of several recent research reports. Bank of America increased their target price on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. Morgan Stanley increased 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 note on Wednesday, February 7th. Citigroup increased their target price on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $53.45.

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.