Pictet Asset Management Holding SA Grows Holdings in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Pictet Asset Management increased its Arrowhead Pharmaceuticals stake by 23.8% in Q1, bringing its holdings to 1,273,266 shares valued at about $79.6 million.
• Arrowhead reported a smaller-than-expected quarterly loss of ($0.93) per share on revenue of $73.74 million, though revenue fell sharply year over year and the company remains unprofitable.
• Analyst sentiment is mostly positive, with firms like JPMorgan and Morgan Stanley issuing overweight ratings and the stock carrying a consensus Moderate Buy rating with a target price of $86.36.

Pictet Asset Management Holding SA boosted its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 23.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,273,266 shares of the biotechnology company's stock after buying an additional 244,530 shares during the quarter. Pictet Asset Management Holding SA owned 0.91% of Arrowhead Pharmaceuticals worth $79,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 2.8% during the third quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company's stock valued at $375,941,000 after acquiring an additional 300,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company's stock worth $216,799,000 after acquiring an additional 133,921 shares in the last quarter. Baker BROS. Advisors LP boosted its holdings in Arrowhead Pharmaceuticals by 30.2% in the fourth quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company's stock valued at $144,441,000 after purchasing an additional 504,883 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Arrowhead Pharmaceuticals by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company's stock valued at $138,619,000 after purchasing an additional 6,264 shares during the last quarter. Finally, Fred Alger Management LLC grew its stake in Arrowhead Pharmaceuticals by 497.4% during the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company's stock valued at $121,693,000 after purchasing an additional 1,526,164 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Trading Up 2.0%

Shares of NASDAQ ARWR opened at $80.50 on Tuesday. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. The stock's 50 day moving average price is $75.85 and its two-hundred day moving average price is $68.42. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $14.30 and a 52-week high of $84.55. The stock has a market capitalization of $11.34 billion, a P/E ratio of -37.44 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. The company had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The business's revenue was down 86.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.75 EPS. On average, analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider James C. Hamilton sold 10,000 shares of the firm's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the insider directly owned 226,958 shares in the company, valued at approximately $17,021,850. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the completion of the transaction, the director directly owned 52,012 shares of the company's stock, valued at $3,998,682.56. This trade represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 26,065 shares of company stock valued at $1,912,662 over the last 90 days. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ARWR. Wall Street Zen raised Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. assumed coverage on shares of Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an "overweight" rating and a $88.00 price target for the company. Leerink Partners lifted their price target on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 17th. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $78.00 to $100.00 in a report on Tuesday, April 21st. Finally, Sanford C. Bernstein increased their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a "market perform" rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.36.

Arrowhead Pharmaceuticals 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.

Want to see what other hedge funds are holding ARWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report).

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.