Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System grew its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 72.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,400 shares of the biotechnology company's stock after acquiring an additional 24,900 shares during the quarter. Louisiana State Employees Retirement System's holdings in Arrowhead Pharmaceuticals were worth $757,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Arrowhead Pharmaceuticals by 297.6% in the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 1,628 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $49,000. Mackenzie Financial Corp bought a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at $137,000. KBC Group NV lifted its stake in Arrowhead Pharmaceuticals by 40.8% during the 1st quarter. KBC Group NV now owns 7,356 shares of the biotechnology company's stock valued at $94,000 after acquiring an additional 2,132 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at about $190,000. 62.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on ARWR shares. Citigroup lowered their target price on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Chardan Capital reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Finally, Wall Street Zen cut shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and six have issued 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 price target of $43.71.

Arrowhead Pharmaceuticals Trading Down 11.1%

NASDAQ:ARWR traded down $2.09 during mid-day trading on Friday, hitting $16.76. 3,012,546 shares of the stock traded hands, compared to its average volume of 1,580,857. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -11.97, a PEG ratio of 19.71 and a beta of 0.93. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $9.57 and a 52 week high of $29.86. The firm's 50 day moving average is $16.34 and its two-hundred day moving average is $16.32. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.31.

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

Arrowhead Pharmaceuticals 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.