Fisher Asset Management LLC Has $87.09 Million Stock Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Fisher Asset Management increased its stake in Arrowhead Pharmaceuticals by 24.5% in the fourth quarter, bringing its holdings to 1.31 million shares valued at about $87.1 million.
• Institutional interest in ARWR remains strong, with several other hedge funds also adding to positions; overall, 62.61% of the stock is owned by institutions and hedge funds.
• Arrowhead recently beat earnings expectations on EPS, but revenue fell sharply year over year and the company still posted a negative net margin; analysts currently rate the stock a Moderate Buy with a consensus target price of $87.80.

Fisher Asset Management LLC boosted its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 24.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,311,727 shares of the biotechnology company's stock after purchasing an additional 257,933 shares during the period. Fisher Asset Management LLC owned about 0.94% of Arrowhead Pharmaceuticals worth $87,086,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of 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 buying an additional 2,017,489 shares in the last quarter. Deerfield Management Company L.P. bought a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at approximately $34,249,000. Balyasny Asset Management L.P. acquired a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $27,349,000. Pictet Asset Management Holding SA grew its position in Arrowhead Pharmaceuticals by 253.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,028,736 shares of the biotechnology company's stock worth $68,636,000 after acquiring an additional 737,713 shares during the last quarter. Finally, Baker BROS. Advisors LP grew its position in Arrowhead Pharmaceuticals by 77.9% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,670,762 shares of the biotechnology company's stock worth $57,625,000 after acquiring an additional 731,588 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $74.95 on Tuesday. The business has a fifty day simple moving average of $67.81 and a 200 day simple moving average of $63.47. The stock has a market cap of $10.56 billion, a PE ratio of -34.86 and a beta of 1.28. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $14.30 and a 12 month high of $82.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The firm had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. During the same quarter in the prior year, the firm posted $2.75 earnings per share. The company's quarterly revenue was down 86.4% on a year-over-year basis. Research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ARWR. JPMorgan Chase & Co. began coverage on Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They issued an "overweight" rating and a $88.00 price objective for the company. Weiss Ratings cut Arrowhead Pharmaceuticals from a "hold (c-)" rating to a "sell (d-)" rating in a report on Wednesday, May 20th. Morgan Stanley upgraded Arrowhead Pharmaceuticals from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $78.00 to $100.00 in a research note on Tuesday, April 21st. Royal Bank Of Canada raised their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Finally, Sanford C. Bernstein boosted their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $87.80.

Insider Activity

In related news, insider James C. Hamilton sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the sale, the insider directly owned 226,958 shares in the company, valued at $17,021,850. This trade represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total transaction of $934,328.25. Following the transaction, the chief financial officer directly owned 162,905 shares in the company, valued at $11,623,271.75. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 36,065 shares of company stock valued at $2,554,562 in the last ninety days. 3.60% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.