Bank of Nova Scotia Takes $8.53 Million Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Bank of Nova Scotia acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 135,960 shares of the biotechnology company’s stock, valued at approximately $8,525,000. Bank of Nova Scotia owned approximately 0.10% of Arrowhead Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tsfg LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $25,000. iSAM Funds UK Ltd acquired a new stake in Arrowhead Pharmaceuticals in the third quarter valued at approximately $29,000. First Horizon Corp purchased a new position in Arrowhead Pharmaceuticals in the fourth quarter worth approximately $32,000. WPG Advisers LLC grew its holdings in Arrowhead Pharmaceuticals by 384.8% during the 4th quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 431 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 177.1% during the 4th quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 471 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Hongbo Lu sold 2,970 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the sale, the director owned 52,012 shares in the company, valued at approximately $3,998,682.56. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $85.60 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $15.01 and a 1 year high of $95.49. The company has a market capitalization of $12.06 billion, a P/E ratio of -39.81 and a beta of 1.26. The business has a 50 day moving average price of $77.94 and a 200 day moving average price of $70.02.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The firm had revenue of $73.74 million for the quarter, compared to analysts’ expectations of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.Arrowhead Pharmaceuticals’s quarterly revenue was down 86.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.75 EPS. Sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Sanford C. Bernstein boosted their target price on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 1st. Weiss Ratings downgraded Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.83.

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.