Connor Clark & Lunn Investment Management Ltd. Takes Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Connor Clark & Lunn Investment Management acquired 625,569 Arrowhead Pharmaceuticals shares valued at approximately $51 million, while institutional investors and hedge funds collectively own 62.61% of the company.
• Arrowhead reported quarterly revenue of $75.25 million, up 171% year over year and above estimates, but its $1.36 loss per share missed consensus expectations; analysts project a full-year loss of $3.51 per share.
• ARWR opened at $86.73, near its 52-week high, and carries a “Moderate Buy” consensus rating with an average analyst price target of $97.33. Several firms recently raised targets, though two company directors also sold shares in August.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 625,569 shares of the biotechnology company's stock, valued at approximately $50,990,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.44% of Arrowhead Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals in the second quarter valued at $1,208,838,000. Arrowstreet Capital Limited Partnership grew its holdings in Arrowhead Pharmaceuticals by 3,142.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company's stock worth $71,797,000 after acquiring an additional 2,017,489 shares during the period. Norges Bank acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter worth about $113,159,000. Fred Alger Management LLC raised its position in Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company's stock worth $121,693,000 after acquiring an additional 1,526,164 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Arrowhead Pharmaceuticals in the first quarter worth about $64,988,000. 62.61% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $86.73 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a one year low of $20.44 and a one year high of $95.49. The firm has a 50-day moving average of $83.04 and a two-hundred day moving average of $72.97. The firm has a market capitalization of $12.22 billion, a PE ratio of -38.55 and a beta of 1.27. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.13). The firm had revenue of $75.25 million for the quarter, compared to analyst estimates of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The firm's revenue was up 171.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.26) EPS. On average, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARWR has been the subject of several research reports. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. increased their target price 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. Stifel Nicolaus began coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They issued a "buy" rating and a $98.00 price target on the stock. Chardan Capital upped their price target on Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Finally, B. Riley Financial increased their price objective on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $97.33.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Adeoye Y. Olukotun sold 2,000 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the sale, the director directly owned 31,600 shares of the company's stock, valued at $2,747,936. The trade was a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael S. Perry sold 11,600 shares of the stock in a transaction on 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 of the company's stock, valued at $9,730,370.70. The trade was a 9.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.60% of the stock is owned by insiders.

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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