Teacher Retirement System of Texas Trims Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Teacher Retirement System of Texas cut its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 9.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,143 shares of the biotechnology company’s stock after selling 3,011 shares during the period. Teacher Retirement System of Texas’ holdings in Arrowhead Pharmaceuticals were worth $384,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System lifted its holdings in Arrowhead Pharmaceuticals by 6.9% in the first quarter. New York State Teachers Retirement System now owns 148,376 shares of the biotechnology company’s stock valued at $1,890,000 after acquiring an additional 9,593 shares during the last quarter. KBC Group NV grew its holdings in shares of Arrowhead Pharmaceuticals by 40.8% during the first quarter. KBC Group NV now owns 7,356 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 2,132 shares during the last quarter. Wealth Effects LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 9.4% during the first quarter. Wealth Effects LLC now owns 170,550 shares of the biotechnology company’s stock worth $2,173,000 after purchasing an additional 14,675 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Arrowhead Pharmaceuticals by 393.4% during the first quarter. State of Alaska Department of Revenue now owns 69,870 shares of the biotechnology company’s stock worth $890,000 after buying an additional 55,708 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Arrowhead Pharmaceuticals by 31.8% in the first quarter. Exchange Traded Concepts LLC now owns 49,247 shares of the biotechnology company’s stock valued at $627,000 after purchasing an additional 11,879 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Citigroup lowered their price objective 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. Finally, Chardan Capital reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.71.

Arrowhead Pharmaceuticals Stock Up 3.0%

Arrowhead Pharmaceuticals stock opened at $18.85 on Friday. The company has a market capitalization of $2.60 billion, a P/E ratio of -13.46, a P/E/G ratio of 21.52 and a beta of 0.93. The firm’s fifty day simple moving average is $16.27 and its 200-day simple moving average is $16.35. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.31. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $29.86.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $2.81. The company had revenue of $542.71 million for the quarter, compared to the consensus estimate of $116.27 million. During the same quarter in the previous year, the firm posted ($1.02) EPS. Sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals 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.