Principal Financial Group Inc. Has $8.01 Million Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Principal Financial Group Inc. increased its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 117.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 629,075 shares of the biotechnology company's stock after acquiring an additional 340,191 shares during the period. Principal Financial Group Inc. owned approximately 0.46% of Arrowhead Pharmaceuticals worth $8,014,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ARWR. Exchange Traded Concepts LLC grew its stake in shares of Arrowhead Pharmaceuticals by 31.8% in the first quarter. Exchange Traded Concepts LLC now owns 49,247 shares of the biotechnology company's stock worth $627,000 after purchasing an additional 11,879 shares in the last quarter. Raymond James Financial Inc. bought a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at about $651,000. GAMMA Investing LLC grew 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 buying an additional 1,628 shares in the last quarter. New York State Teachers Retirement System increased its stake in Arrowhead Pharmaceuticals by 6.9% during the 1st quarter. New York State Teachers Retirement System now owns 148,376 shares of the biotechnology company's stock valued at $1,890,000 after buying an additional 9,593 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Arrowhead Pharmaceuticals by 59.5% during the 4th 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 in the last quarter. 62.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ARWR shares. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Citigroup cut their target price on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. Finally, 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.71.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR traded down $2.09 during trading on Friday, hitting $16.76. The company had a trading volume of 3,012,546 shares, compared to its average volume of 1,577,474. The company has a market cap of $2.31 billion, a P/E ratio of -11.97, a PEG ratio of 22.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.15 and a current ratio of 5.15. The business's 50-day moving average is $16.34 and its 200 day moving average is $16.34. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $9.57 and a 52 week high of $29.86.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, beating the consensus estimate of ($0.06) by $2.81. The company had revenue of $542.71 million for the quarter, compared to analysts' expectations of $116.27 million. During the same period in the prior year, the company earned ($1.02) earnings per share. Equities research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal 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.