Assenagon Asset Management S.A. Grows Stock Holdings in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Assenagon Asset Management increased its Arrowhead Pharmaceuticals stake by 243.8% in the second quarter, bringing its holdings to 201,927 shares valued at approximately $16.5 million. Institutional investors collectively own 62.61% of the company.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $97.33. Several firms raised their targets, including Piper Sandler to $126 and B. Riley to $123, although Weiss Ratings downgraded the stock to sell.
• Arrowhead’s revenue rose 171% year over year to $75.25 million in its latest quarter, but the company reported an adjusted loss of $1.36 per share, missing estimates, and continues to post negative profitability metrics.

Assenagon Asset Management S.A. raised its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 243.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 201,927 shares of the biotechnology company's stock after acquiring an additional 143,192 shares during the quarter. Assenagon Asset Management S.A. owned about 0.14% of Arrowhead Pharmaceuticals worth $16,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in 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 buying an additional 10,496 shares in the last quarter. AQR Capital Management LLC bought a new stake in Arrowhead Pharmaceuticals during the 1st quarter worth approximately $514,000. Goldman Sachs Group Inc. increased its holdings in 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 worth $22,189,000 after acquiring an additional 447,456 shares during the period. Empowered Funds LLC lifted 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 purchasing an additional 979 shares in the last quarter. Finally, Focus Partners Wealth lifted 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 purchasing an additional 15,123 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ARWR. Weiss Ratings lowered shares of Arrowhead Pharmaceuticals from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Wednesday, May 20th. Piper Sandler reiterated an "overweight" rating and issued a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. Sanford C. Bernstein lifted their price objective on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a "market perform" rating in a research note on Wednesday, May 13th. Chardan Capital boosted their target price on Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Finally, B. Riley Financial upped their target price on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.33.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR opened at $88.33 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $15.81 and a 52-week high of $95.49. The company has a fifty day moving average of $80.23 and a 200-day moving average of $71.64. The company has a market capitalization of $12.44 billion, a P/E ratio of -39.26 and a beta of 1.27. The company has a debt-to-equity ratio of 1.77, a quick ratio of 5.90 and a current 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) EPS for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The firm had revenue of $75.25 million during the quarter, compared to the consensus estimate of $44.17 million. During the same period in the prior year, the company earned ($1.26) EPS. The firm's revenue was up 171.0% compared to the same quarter last year. As a group, equities research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.46 EPS 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.

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