Rhumbline Advisers Buys 11,115 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Rhumbline Advisers increased its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 371,112 shares of the biotechnology company’s stock after purchasing an additional 11,115 shares during the quarter. Rhumbline Advisers owned about 0.27% of Arrowhead Pharmaceuticals worth $12,800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Wace LLP lifted its holdings in Arrowhead Pharmaceuticals by 3,507.8% during the 2nd quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock worth $34,065,000 after buying an additional 2,096,238 shares in the last quarter. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth $30,414,000. Invesco Ltd. raised its position in shares of Arrowhead Pharmaceuticals by 142.8% during the second quarter. Invesco Ltd. now owns 762,665 shares of the biotechnology company’s stock worth $12,050,000 after acquiring an additional 448,585 shares during the last quarter. Goldman Sachs Group Inc. lifted 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, Assenagon Asset Management S.A. boosted its holdings in Arrowhead Pharmaceuticals by 1,388.6% in the third quarter. Assenagon Asset Management S.A. now owns 380,625 shares of the biotechnology company’s stock valued at $13,128,000 after acquiring an additional 355,056 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a report on Tuesday, January 13th. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 10th. Chardan Capital lifted their target price on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. The Goldman Sachs Group increased their price target on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Finally, Morgan Stanley lifted their price objective on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Insider Buying and Selling

In other news, CEO Christopher Richard Anzalone sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $68.85, for a total transaction of $8,950,500.00. Following the sale, the chief executive officer owned 3,971,255 shares in the company, valued at $273,420,906.75. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider James C. Hamilton sold 40,164 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $63.11, for a total value of $2,534,750.04. Following the completion of the sale, the insider directly owned 171,958 shares of the company’s stock, valued at approximately $10,852,269.38. The trade was a 18.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 510,836 shares of company stock worth $33,603,060 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Stock Down 0.8%

Shares of ARWR stock opened at $63.86 on Friday. The firm’s fifty day moving average price is $66.60 and its two-hundred day moving average price is $46.40. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $9.57 and a 1 year high of $76.76. The firm has a market capitalization of $8.94 billion, a P/E ratio of 41.74 and a beta of 1.21.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The company had revenue of $264.03 million during the quarter, compared to analyst estimates of $225.66 million. During the same period in the prior year, the firm posted ($1.39) EPS. Arrowhead Pharmaceuticals’s revenue was up 10461.3% compared to the same quarter last year. On average, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Arrowhead Pharmaceuticals Profile

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.