Allspring Global Investments Holdings LLC Purchases 47,902 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Allspring Global Investments Holdings LLC lifted its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 658.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,179 shares of the biotechnology company’s stock after purchasing an additional 47,902 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arrowhead Pharmaceuticals were worth $3,472,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ARWR. Royal Bank of Canada grew its stake in shares of Arrowhead Pharmaceuticals by 30.2% during the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after acquiring an additional 10,496 shares during the period. AQR Capital Management LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the 1st quarter valued at $514,000. Goldman Sachs Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after buying an additional 447,456 shares in the last quarter. Empowered Funds LLC increased its stake in Arrowhead Pharmaceuticals by 6.9% in the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after buying an additional 979 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in Arrowhead Pharmaceuticals by 1,339.5% in the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock worth $207,000 after buying an additional 15,123 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ARWR has been the subject of several research analyst reports. Stifel Nicolaus began coverage on Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They set a “buy” rating and a $98.00 target price for the company. Morgan Stanley upped their price target on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. Sanford C. Bernstein increased their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Chardan Capital lifted their price objective on shares of Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Royal Bank Of Canada boosted their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $93.83.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, Director Hongbo Lu sold 2,970 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total value of $228,333.60. Following the completion of the transaction, the director directly owned 52,012 shares of the company’s stock, valued at $3,998,682.56. This trade represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Stock Down 1.4%

Shares of Arrowhead Pharmaceuticals stock opened at $85.60 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23. The stock has a market cap of $12.06 billion, a price-to-earnings ratio of -39.81 and a beta of 1.26. The firm’s 50-day moving average is $77.94 and its two-hundred day moving average is $69.97. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $15.01 and a 1 year high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The firm had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. During the same period in the previous year, the company posted $2.75 EPS. The business’s revenue for the quarter was down 86.4% compared to the same quarter last year. As a group, research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.08 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals Company 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.