Arrowhead Pharmaceuticals, Inc. $ARWR Stock Holdings Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 7.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 74,819 shares of the biotechnology company’s stock after acquiring an additional 4,949 shares during the quarter. State of Alaska Department of Revenue owned about 0.05% of Arrowhead Pharmaceuticals worth $1,181,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Arrowhead Pharmaceuticals by 8.4% in the first quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company’s stock worth $168,201,000 after purchasing an additional 1,018,273 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 138.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company’s stock worth $60,962,000 after acquiring an additional 2,774,933 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 0.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,528,982 shares of the biotechnology company’s stock valued at $32,220,000 after acquiring an additional 21,686 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Arrowhead Pharmaceuticals by 34.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after acquiring an additional 447,456 shares during the period. Finally, Aberdeen Group plc raised its holdings in Arrowhead Pharmaceuticals by 138.4% during the first quarter. Aberdeen Group plc now owns 1,072,827 shares of the biotechnology company’s stock worth $13,668,000 after purchasing an additional 622,752 shares in the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Stock Up 4.4%

ARWR opened at $36.12 on Friday. The business has a 50 day moving average of $24.54 and a 200-day moving average of $18.19. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of -28.22 and a beta of 1.13. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.39. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $36.24.

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

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total transaction of $700,000.00. Following the sale, the insider directly owned 212,122 shares of the company’s stock, valued at $7,424,270. This trade represents a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 60,000 shares of company stock valued at $1,725,000 in the last three months. 4.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen lowered Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Saturday, September 27th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 2nd. B. Riley raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 11th. Finally, Royal Bank Of Canada reduced their price objective on shares of Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

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.