Invesco Ltd. Buys 137,845 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Invesco Ltd. significantly increased its stake in Arrowhead Pharmaceuticals by 78.2%, acquiring an additional 137,845 shares, bringing its total ownership to about 314,080 shares worth approximately $4 million.
• Several analysts have rated Arrowhead Pharmaceuticals positively, with HC Wainwright setting a price target of $80 and B. Riley calling it a "strong-buy," while the consensus price target from analysts is around $43.14.
• Arrowhead Pharmaceuticals reported a net loss of $1.26 EPS for its most recent quarter, missing expectations, and generated revenue of $27.77 million, below analyst estimates of $29.01 million.

Invesco Ltd. raised its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 78.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,080 shares of the biotechnology company's stock after purchasing an additional 137,845 shares during the period. Invesco Ltd. owned approximately 0.23% of Arrowhead Pharmaceuticals worth $4,001,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ARWR. GAMMA Investing LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 297.6% during the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock worth $28,000 after buying an additional 1,628 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $49,000. CWM LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 134.3% during the first 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 last quarter. Mackenzie Financial Corp bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $137,000. Finally, KBC Group NV grew its holdings in shares of Arrowhead Pharmaceuticals by 40.8% during the first 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 last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ARWR. Royal Bank Of Canada reduced their price target on Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wall Street Zen downgraded Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Chardan Capital restated a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. B. Riley upgraded Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 11th. Finally, HC Wainwright restated a "buy" rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $43.14.

Arrowhead Pharmaceuticals Trading Up 13.7%

ARWR traded up $3.01 during trading on Tuesday, reaching $25.04. 3,262,558 shares of the stock traded hands, compared to its average volume of 1,972,936. The stock has a market capitalization of $3.46 billion, a PE ratio of -19.61 and a beta of 1.00. The stock's 50-day moving average is $17.84 and its 200 day moving average is $16.00. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.39. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $9.57 and a 12 month high of $27.34.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.32). The firm had revenue of $27.77 million for the quarter, compared to the consensus estimate of $29.01 million. During the same quarter in the previous year, the business earned ($1.38) earnings per share. Equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Activity

In other news, insider James C. Hamilton sold 9,389 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $20.00, for a total transaction of $187,780.00. Following the transaction, the insider owned 262,122 shares of the company's stock, valued at $5,242,440. This represents a 3.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by company insiders.

About Arrowhead Pharmaceuticals

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.