Franklin Resources Inc. Purchases Shares of 81,226 Arrowhead Pharmaceuticals, Inc. $ARWR

Franklin Resources Inc. acquired a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 81,226 shares of the biotechnology company’s stock, valued at approximately $1,283,000. Franklin Resources Inc. owned approximately 0.06% of Arrowhead Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARWR. Nisa Investment Advisors LLC increased its position in Arrowhead Pharmaceuticals by 75.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock worth $48,000 after buying an additional 1,308 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Arrowhead Pharmaceuticals by 29.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,335 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 1,214 shares in the last quarter. XTX Topco Ltd acquired a new position in Arrowhead Pharmaceuticals in the 1st quarter valued at about $133,000. Pale Fire Capital SE acquired a new position in Arrowhead Pharmaceuticals in the 1st quarter valued at about $156,000. Finally, Bryce Point Capital LLC purchased a new position in Arrowhead Pharmaceuticals in the 2nd quarter valued at about $164,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $61.44 on Friday. The company has a market cap of $8.34 billion, a PE ratio of -767.90 and a beta of 1.28. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $42.01 and a two-hundred day moving average price of $27.48. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $9.57 and a 12-month high of $67.14.

Insider Buying and Selling

In related news, Director Mauro Ferrari sold 8,750 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $56.39, for a total value of $493,412.50. Following the transaction, the director owned 68,764 shares in the company, valued at approximately $3,877,601.96. This trade represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James C. Hamilton sold 20,000 shares of the business’s stock in a transaction that occurred on 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 owned 212,122 shares of the company’s stock, valued at approximately $7,424,270. This represents a 8.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 43,750 shares of company stock valued at $1,643,413. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Morgan Stanley lifted their target price on shares of Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. B. Riley raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Finally, HC Wainwright upped their target price on Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.33.

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.