B. Metzler seel. Sohn & Co. AG bought a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 26,338 shares of the biotechnology company's stock, valued at approximately $2,147,000.
A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth about $1,208,838,000. Arrowstreet Capital Limited Partnership raised its stake in Arrowhead Pharmaceuticals by 3,142.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company's stock valued at $71,797,000 after purchasing an additional 2,017,489 shares during the period. Norges Bank bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at approximately $113,159,000. Fred Alger Management LLC lifted its holdings in Arrowhead Pharmaceuticals by 497.4% in the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company's stock worth $121,693,000 after purchasing an additional 1,526,164 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Arrowhead Pharmaceuticals in the 1st quarter worth approximately $64,988,000. Hedge funds and other institutional investors own 62.61% of the company's stock.
Arrowhead Pharmaceuticals Price Performance
Shares of Arrowhead Pharmaceuticals stock opened at $87.11 on Friday. The stock has a market cap of $12.27 billion, a price-to-earnings ratio of -38.72 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. The stock has a 50 day moving average price of $82.84 and a 200-day moving average price of $72.87. Arrowhead Pharmaceuticals, Inc. has a one year low of $20.44 and a one year high of $95.49.
Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The company had revenue of $75.25 million for the quarter, compared to analysts' expectations of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The business's quarterly revenue was up 171.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.26) EPS. Equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current year.
Analysts Set New Price Targets
Several research firms have recently issued reports on ARWR. Leerink Partners lifted their price objective on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a "market perform" rating in a research report on Wednesday, June 17th. Piper Sandler restated an "overweight" rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. Chardan Capital raised their target price on shares of Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Sanford C. Bernstein lifted their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. Finally, B. Riley Financial boosted their price target on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.33.
Check Out Our Latest Report on ARWR
Insiders Place Their Bets
In other news, Director Michael S. Perry sold 11,600 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the completion of the sale, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. This trade represents a 9.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the transaction, the director directly owned 31,600 shares of the company's stock, valued at approximately $2,747,936. This represents a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.60% of the company's stock.
Arrowhead Pharmaceuticals Company Profile
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Free Report)
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.
Further Reading
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