Strs Ohio Purchases 1,900 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Strs Ohio boosted its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 7.1% during the 4th quarter, HoldingsChannel reports. The firm owned 28,500 shares of the biotechnology company’s stock after buying an additional 1,900 shares during the period. Strs Ohio’s holdings in Arrowhead Pharmaceuticals were worth $872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Washington Trust Advisors Inc. purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $25,000. Fifth Third Bancorp increased its position in Arrowhead Pharmaceuticals by 112.0% during the 3rd 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. Friedenthal Financial purchased a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at about $51,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Arrowhead Pharmaceuticals by 96.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,753 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 1,352 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Arrowhead Pharmaceuticals by 130.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,270 shares of the biotechnology company’s stock worth $142,000 after purchasing an additional 2,980 shares during the period. 62.61% of the stock is owned by institutional investors.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $23.29 on Thursday. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $20.67 and a fifty-two week high of $42.48. The company has a market cap of $2.89 billion, a PE ratio of -8.38 and a beta of 0.71. The business has a 50-day simple moving average of $28.40 and a two-hundred day simple moving average of $28.92.

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 the consensus estimate of ($0.78) by ($0.46). The company had revenue of $3.55 million during the quarter, compared to analysts’ expectations of $35.60 million. Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 90.77%. The business’s revenue for the quarter was down 94.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.39) earnings per share. On average, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ARWR shares. Citigroup lifted their price objective on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a report 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 report on Tuesday, January 2nd. Royal Bank of Canada restated an “outperform” rating and set a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. Morgan Stanley lifted their target price 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. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.45.

About Arrowhead Pharmaceuticals

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.