Louisiana State Employees Retirement System grew its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 72.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,400 shares of the biotechnology company's stock after buying an additional 24,900 shares during the period. Louisiana State Employees Retirement System's holdings in Arrowhead Pharmaceuticals were worth $757,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of ARWR. Exchange Traded Concepts LLC boosted its stake in Arrowhead Pharmaceuticals by 31.8% during the first quarter. Exchange Traded Concepts LLC now owns 49,247 shares of the biotechnology company's stock worth $627,000 after buying an additional 11,879 shares during the period. Raymond James Financial Inc. purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter worth about $651,000. GAMMA Investing LLC boosted its stake in 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 during the period. New York State Teachers Retirement System boosted its stake in Arrowhead Pharmaceuticals by 6.9% during the first quarter. New York State Teachers Retirement System now owns 148,376 shares of the biotechnology company's stock worth $1,890,000 after buying an additional 9,593 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Arrowhead Pharmaceuticals by 59.5% during the fourth quarter. BNP Paribas Financial Markets now owns 88,029 shares of the biotechnology company's stock worth $1,655,000 after buying an additional 32,841 shares during the period. Hedge funds and other institutional investors own 62.61% of the company's stock.
Arrowhead Pharmaceuticals Stock Up 6.4%
Arrowhead Pharmaceuticals stock traded up $0.96 during trading on Wednesday, reaching $15.92. The stock had a trading volume of 3,417,888 shares, compared to its average volume of 1,620,518. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $9.57 and a 52-week high of $29.86. The business has a 50 day moving average price of $16.35 and a 200 day moving average price of $16.26. 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 cap of $2.20 billion, a PE ratio of -11.37, a P/E/G ratio of 17.59 and a beta of 0.93.
Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $2.81. The firm had revenue of $542.71 million during the quarter, compared to analysts' expectations of $116.27 million. During the same quarter in the prior year, the firm earned ($1.02) EPS. On average, analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently commented on ARWR shares. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Wall Street Zen lowered shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Chardan Capital reissued a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. Finally, Citigroup lowered their price objective on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a research note 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 MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $43.71.
Get Our Latest Stock Report on Arrowhead Pharmaceuticals
About Arrowhead Pharmaceuticals
(
Free Report)
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.
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