Edgestream Partners L.P. Buys 185,096 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Edgestream Partners L.P. grew its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 153.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 305,507 shares of the biotechnology company's stock after purchasing an additional 185,096 shares during the period. Edgestream Partners L.P. owned 0.22% of Arrowhead Pharmaceuticals worth $3,892,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 297.6% during the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 1,628 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $49,000. CWM LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 134.3% during the 1st quarter. CWM LLC now owns 4,401 shares of the biotechnology company's stock worth $56,000 after purchasing an additional 2,523 shares during the period. KBC Group NV lifted its stake in shares of Arrowhead Pharmaceuticals by 40.8% during the 1st quarter. KBC Group NV now owns 7,356 shares of the biotechnology company's stock worth $94,000 after purchasing an additional 2,132 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $137,000. 62.61% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock traded down $2.09 during mid-day trading on Friday, hitting $16.76. The company's stock had a trading volume of 3,012,546 shares, compared to its average volume of 1,577,474. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2.31 billion, a P/E ratio of -11.97, a P/E/G ratio of 22.17 and a beta of 0.93. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $9.57 and a twelve month high of $29.86. The stock's fifty day moving average price is $16.34 and its two-hundred day moving average price is $16.34.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $2.81. The firm had revenue of $542.71 million for the quarter, compared to analysts' expectations of $116.27 million. During the same quarter in the previous year, the firm posted ($1.02) earnings per share. Research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARWR has been the subject of several recent research reports. Chardan Capital reiterated a "buy" rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Wall Street Zen downgraded Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday. Finally, Citigroup lowered their price target on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $43.71.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.