Aberdeen Group plc Buys 622,752 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Aberdeen Group plc has increased its stake in Arrowhead Pharmaceuticals by 138.4%, acquiring an additional 622,752 shares, bringing its total ownership to 1,072,827 shares valued at approximately $13.67 million.
• Arrowhead Pharmaceuticals reported a loss per share of $1.26 in its latest earnings release, missing analyst expectations, and is projected to post an EPS of -2.42 for the current fiscal year.
• Analyst ratings for Arrowhead Pharmaceuticals vary, with three analysts holding a "hold" rating, five assigning a "buy," and two giving a "strong buy," reflecting a consensus target price of $43.14.

Aberdeen Group plc boosted its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 138.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,072,827 shares of the biotechnology company's stock after purchasing an additional 622,752 shares during the quarter. Aberdeen Group plc owned 0.78% of Arrowhead Pharmaceuticals worth $13,668,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ARWR. Wells Fargo & Company MN raised its stake in shares of Arrowhead Pharmaceuticals by 43.1% in the 4th quarter. Wells Fargo & Company MN now owns 62,886 shares of the biotechnology company's stock valued at $1,182,000 after buying an additional 18,933 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Arrowhead Pharmaceuticals by 13.3% in the 4th quarter. Bank of Montreal Can now owns 15,018 shares of the biotechnology company's stock valued at $282,000 after buying an additional 1,759 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at $651,000. Barclays PLC raised its stake in shares of Arrowhead Pharmaceuticals by 13.0% in the 4th quarter. Barclays PLC now owns 312,560 shares of the biotechnology company's stock valued at $5,876,000 after buying an additional 35,950 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at $1,629,000. Institutional investors and hedge funds own 62.61% of the company's stock.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 9,389 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $20.00, for a total transaction of $187,780.00. Following the sale, the insider owned 262,122 shares of the company's stock, valued at $5,242,440. This represents a 3.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock traded up $0.58 during mid-day trading on Friday, reaching $21.33. 2,646,214 shares of the stock were exchanged, compared to its average volume of 2,312,035. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -16.66 and a beta of 0.94. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.39. The firm has a 50-day simple moving average of $17.10 and a 200 day simple moving average of $15.90. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $27.34.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.32). The company had revenue of $27.77 million for the quarter, compared to analyst estimates of $29.01 million. During the same period in the prior year, the business earned ($1.38) EPS. On average, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ARWR. TD Cowen upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 28th. B. Riley upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 11th. HC Wainwright restated a "buy" rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Royal Bank Of Canada dropped 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 note on Friday, August 8th. Finally, Wall Street Zen cut shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $43.14.

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.