Arrowhead Pharmaceuticals, Inc. $ARWR Stock: Washington Trust Advisors Inc. Grows Stake

Key Points

• Washington Trust Advisors increased its Arrowhead Pharmaceuticals stake by 179.9% in the third quarter, reaching 73,281 shares valued at approximately $4.8 million. Institutional investors and hedge funds collectively own 62.61% of the company.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $99.07, despite one sell rating.
• ARWR recently traded at $58.02, down 0.6%; its latest quarterly results included a $1.36 per-share loss, though revenue rose 171% year over year to $75.25 million and exceeded expectations.

Washington Trust Advisors Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 179.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,281 shares of the biotechnology company's stock after purchasing an additional 47,096 shares during the period. Washington Trust Advisors Inc. owned approximately 0.05% of Arrowhead Pharmaceuticals worth $4,796,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at $1,208,838,000. Jupiter Topco LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter worth $99,623,000. Renaissance Technologies LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 1st quarter worth $64,988,000. Bank of New York Mellon Corp acquired a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth $70,061,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Arrowhead Pharmaceuticals during the second quarter valued at $50,990,000. Institutional investors and hedge funds own 62.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARWR. UBS Group initiated coverage on Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. They issued a "buy" rating and a $109.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. Stifel Nicolaus began coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They set a "buy" rating and a $98.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Finally, B. Riley Financial raised their target price on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.07.

Arrowhead Pharmaceuticals Stock Down 0.6%

ARWR traded down $0.34 on Friday, reaching $58.02. 871,718 shares of the company traded hands, compared to its average volume of 1,916,049. The stock's 50 day moving average price is $72.62 and its 200-day moving average price is $75.76. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $36.88 and a 52-week high of $95.49. The company has a market cap of $8.17 billion, a price-to-earnings ratio of -25.79 and a beta of 1.29. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%. The company had revenue of $75.25 million during the quarter, compared to analysts' expectations of $44.17 million. During the same quarter in the previous year, the company earned ($1.26) EPS. The firm's quarterly revenue was up 171.0% compared to the same quarter last year. On average, sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.62 EPS for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total value of $1,012,680.00. Following the transaction, the director directly owned 111,459 shares of the company's stock, valued at $9,730,370.70. This represents a 9.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the sale, the director directly owned 31,600 shares of the company's stock, valued at $2,747,936. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.60% of the stock is currently owned by company insiders.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes using RNA interference (RNAi). The company's proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi-based therapies to specific tissues and reduce the production of targeted proteins.

Arrowhead's research and development programs address a range of conditions, including cardiometabolic, pulmonary, liver, and central nervous system diseases.

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