Louisiana State Employees Retirement System Takes $921,000 Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Louisiana State Employees Retirement System purchased a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 30,100 shares of the biotechnology company’s stock, valued at approximately $921,000.

Several other large investors have also modified their holdings of ARWR. Harbor Capital Advisors Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 16.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,135 shares of the biotechnology company’s stock valued at $541,000 after purchasing an additional 2,880 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Arrowhead Pharmaceuticals by 47.8% in the 3rd quarter. Raymond James & Associates now owns 28,343 shares of the biotechnology company’s stock valued at $762,000 after purchasing an additional 9,167 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Arrowhead Pharmaceuticals by 19.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,742 shares of the biotechnology company’s stock worth $611,000 after buying an additional 3,624 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Arrowhead Pharmaceuticals by 8.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 298,370 shares of the biotechnology company’s stock worth $8,017,000 after buying an additional 23,674 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Arrowhead Pharmaceuticals by 6.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 39,159 shares of the biotechnology company’s stock worth $1,052,000 after buying an additional 2,276 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $21.87 on Friday. The firm has a market capitalization of $2.71 billion, a P/E ratio of -7.87 and a beta of 0.71. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $20.67 and a 1-year high of $42.48. The company’s fifty day moving average price is $28.28 and its 200-day moving average price is $28.88.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data 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 business had revenue of $3.55 million during the quarter, compared to analyst estimates of $35.60 million. During the same quarter in the previous year, the company earned ($0.39) EPS. The firm’s revenue was down 94.3% compared to the same quarter last year. Equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Bank of America upped their price target on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Morgan Stanley upped their price target on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, February 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $50.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.45.

Insider Buying and Selling

In related news, CEO Christopher Richard Anzalone sold 57,499 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $32.35, for a total transaction of $1,860,092.65. Following the sale, the chief executive officer now directly owns 3,715,048 shares of the company’s stock, valued at $120,181,802.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 57,499 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $32.35, for a total transaction of $1,860,092.65. Following the transaction, the chief executive officer now directly owns 3,715,048 shares of the company’s stock, valued at $120,181,802.80. The transaction was disclosed in a legal filing with the SEC, 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, for a total transaction of $27,500.00. Following the completion of the acquisition, the director now owns 33,680 shares of the company’s stock, valued at $926,200. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

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.