HighTower Advisors LLC Has $1.43 Million Stock Position in Arrowhead Pharmaceuticals, Inc. $ARWR

HighTower Advisors LLC boosted its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 49.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 112,417 shares of the biotechnology company’s stock after purchasing an additional 37,361 shares during the period. HighTower Advisors LLC owned about 0.08% of Arrowhead Pharmaceuticals worth $1,432,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board acquired a new stake in Arrowhead Pharmaceuticals in the 1st quarter valued at about $5,094,000. Nuveen LLC acquired a new stake in Arrowhead Pharmaceuticals in the 1st quarter valued at about $4,305,000. King Luther Capital Management Corp lifted its stake in Arrowhead Pharmaceuticals by 8.6% in the 1st quarter. King Luther Capital Management Corp now owns 83,590 shares of the biotechnology company’s stock valued at $1,065,000 after purchasing an additional 6,625 shares during the last quarter. Invesco Ltd. lifted its stake in Arrowhead Pharmaceuticals by 78.2% in the 1st quarter. Invesco Ltd. now owns 314,080 shares of the biotechnology company’s stock valued at $4,001,000 after purchasing an additional 137,845 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Arrowhead Pharmaceuticals by 9.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,476 shares of the biotechnology company’s stock valued at $184,000 after purchasing an additional 1,195 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 9,389 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $20.00, for a total transaction of $187,780.00. Following the transaction, the insider directly owned 262,122 shares of the company’s stock, valued at approximately $5,242,440. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Chardan Capital reiterated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 11th. B. Riley raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 11th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Finally, Citigroup lowered their price target on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $43.14.

Arrowhead Pharmaceuticals Stock Down 2.9%

Arrowhead Pharmaceuticals stock opened at $20.71 on Tuesday. The stock has a market cap of $2.86 billion, a P/E ratio of -16.18 and a beta of 0.94. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.39. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $9.57 and a twelve month high of $27.34. The company’s 50-day moving average price is $17.20 and its two-hundred day moving average price is $15.90.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The business had revenue of $27.77 million for the quarter, compared to analysts’ expectations of $29.01 million. During the same quarter in the prior year, the company posted ($1.38) earnings per share. As a group, analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

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.