BlackRock Inc. Makes New $1.21 Billion Investment in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• BlackRock acquired 14.83 million Arrowhead Pharmaceuticals shares during the second quarter, worth approximately $1.21 billion and representing a 10.53% stake. Institutional investors collectively own 62.61% of the company.
• Analysts have raised several price targets, with the consensus rating at “Moderate Buy” and an average target of $97.33; targets range from $46 to $123.
• Arrowhead’s latest quarterly revenue rose 171% year over year to $75.25 million, exceeding estimates, though the company reported an adjusted loss of $1.36 per share and continues to post negative profitability metrics.

BlackRock Inc. acquired a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,830,553 shares of the biotechnology company's stock, valued at approximately $1,208,838,000. BlackRock Inc. owned 10.53% of Arrowhead Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ARWR. Versant Capital Management Inc raised its stake in Arrowhead Pharmaceuticals by 285.1% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company's stock worth $27,000 after buying an additional 248 shares during the period. Carolina Wealth Advisors LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 80.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 154 shares in the last quarter. Tsfg LLC acquired a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at $25,000. Optiver Holding B.V. raised its holdings in Arrowhead Pharmaceuticals by 83.8% during the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company's stock worth $26,000 after buying an additional 186 shares during the last quarter. Finally, First Horizon Corp bought a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at $32,000. Institutional investors own 62.61% of the company's stock.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the transaction, the director directly owned 111,459 shares of the company's stock, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $173,920.00. Following the completion of the sale, the director 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 owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Leerink Partners boosted their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 17th. Sanford C. Bernstein raised their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Chardan Capital lifted their price target on Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. B. Riley Financial boosted their price objective on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Arrowhead Pharmaceuticals in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.33.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $87.11 on Friday. The company's fifty day moving average is $82.84 and its 200 day moving average is $72.87. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $20.44 and a 52 week high of $95.49. The stock has a market cap of $12.27 billion, a PE ratio of -38.72 and a beta of 1.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $75.25 million during the quarter, compared to the consensus estimate of $44.17 million. During the same quarter in the prior year, the business posted ($1.26) EPS. The firm's revenue for the quarter was up 171.0% on a year-over-year basis. Research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.51 earnings per share for the current year.

Arrowhead Pharmaceuticals 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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