Principal Financial Group Inc. Has $8.01 Million Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Principal Financial Group Inc. lifted its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 117.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 629,075 shares of the biotechnology company’s stock after purchasing an additional 340,191 shares during the period. Principal Financial Group Inc. owned 0.46% of Arrowhead Pharmaceuticals worth $8,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ARWR. GAMMA Investing LLC raised its holdings in Arrowhead Pharmaceuticals by 297.6% in the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 1,628 shares during the period. GF Fund Management CO. LTD. acquired a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at about $49,000. KBC Group NV boosted its position in Arrowhead Pharmaceuticals by 40.8% in the first quarter. KBC Group NV now owns 7,356 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 2,132 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth approximately $137,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth approximately $190,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

Wall Street Analysts Forecast Growth

ARWR has been the topic of a number of research reports. Chardan Capital reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. Citigroup dropped their price target on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $43.71.

Arrowhead Pharmaceuticals Stock Down 5.3%

Shares of ARWR stock opened at $17.63 on Wednesday. The firm has a fifty day moving average of $16.05 and a 200-day moving average of $16.34. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.31. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $9.57 and a 12-month high of $30.41. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -12.59, a P/E/G ratio of 21.89 and a beta of 0.93.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $2.81. The business had revenue of $542.71 million during the quarter, compared to analyst estimates of $116.27 million. During the same quarter in the previous year, the firm posted ($1.02) earnings per share. As a group, equities research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

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.