Arrowhead Pharmaceuticals, Inc. $ARWR Shares Acquired by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management boosted its stake in Arrowhead by 253.5%, ending the quarter with 1,028,736 shares (about a 0.76% ownership, valued at ~$68.64 million).
• Arrowhead's latest quarter showed revenue of $264.03 million (far above estimates and up ~10,461% year-over-year) but an EPS miss of $0.22 vs. a $0.60 consensus.
• Analyst sentiment is largely positive—multiple firms raised targets (average target ~$83.78, several near $100)—institutional ownership is 62.61%, while insiders have sold shares under Rule 10b5-1 plans and now hold 3.60%.

Pictet Asset Management Holding SA grew its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 253.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,028,736 shares of the biotechnology company's stock after buying an additional 737,713 shares during the period. Pictet Asset Management Holding SA owned 0.76% of Arrowhead Pharmaceuticals worth $68,636,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Royal Bank of Canada raised its position in Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company's stock valued at $576,000 after purchasing an additional 10,496 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Arrowhead Pharmaceuticals in the 1st quarter valued at $514,000. Goldman Sachs Group Inc. raised its position in Arrowhead Pharmaceuticals by 34.6% in 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 purchasing an additional 447,456 shares during the last quarter. Empowered Funds LLC raised its position in Arrowhead Pharmaceuticals by 6.9% in the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company's stock valued at $194,000 after purchasing an additional 979 shares during the last quarter. Finally, Focus Partners Wealth raised its position 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 valued at $207,000 after purchasing an additional 15,123 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $70.15 on Wednesday. The company has a 50-day moving average of $63.15 and a 200-day moving average of $59.02. The company has a market capitalization of $9.82 billion, a P/E ratio of 45.85 and a beta of 1.26. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $12.44 and a 1-year high of $76.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.38 and a current ratio of 3.38.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The biotechnology company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.38). The business had revenue of $264.03 million during the quarter, compared to analyst estimates of $225.66 million. Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The company's quarterly revenue was up 10461.3% on a year-over-year basis. During the same period last year, the firm posted ($1.39) earnings per share. Equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ARWR shares. Piper Sandler reaffirmed an "overweight" rating and set a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. B. Riley Financial boosted their price objective on shares of Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. HC Wainwright reissued a "buy" rating and issued a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, March 25th. Weiss Ratings raised shares of Arrowhead Pharmaceuticals from a "sell (d-)" rating to a "hold (c-)" rating in a report on Friday, February 6th. Finally, Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $78.00 to $100.00 in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $83.78.

Insider Activity

In other news, CFO Daniel Joseph Apel sold 13,095 shares of the firm's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the transaction, the chief financial officer owned 162,905 shares in the company, valued at approximately $11,623,271.75. This trade represents a 7.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James C. Hamilton sold 10,000 shares of the firm's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the transaction, the insider owned 226,958 shares of the company's stock, valued at approximately $17,021,850. This trade represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 33,095 shares of company stock valued at $2,326,228. Insiders own 3.60% of the company's stock.

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.

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