Principal Financial Group Inc. Raises Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Principal Financial Group Inc. grew its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 117.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 629,075 shares of the biotechnology company's stock after purchasing 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.

A number of other institutional investors and hedge funds have also modified their holdings of ARWR. Oregon Public Employees Retirement Fund increased its holdings in shares of Arrowhead Pharmaceuticals by 14.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 28,884 shares of the biotechnology company's stock worth $368,000 after buying an additional 3,546 shares during the last quarter. New York State Teachers Retirement System lifted its holdings 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 worth $1,890,000 after buying an additional 9,593 shares during the last quarter. KBC Group NV grew its position in shares of Arrowhead Pharmaceuticals by 40.8% in the 1st quarter. KBC Group NV now owns 7,356 shares of the biotechnology company's stock worth $94,000 after acquiring an additional 2,132 shares in the last quarter. Wealth Effects LLC grew its position in shares of Arrowhead Pharmaceuticals by 9.4% in the 1st quarter. Wealth Effects LLC now owns 170,550 shares of the biotechnology company's stock worth $2,173,000 after acquiring an additional 14,675 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Arrowhead Pharmaceuticals by 393.4% in the 1st quarter. State of Alaska Department of Revenue now owns 69,870 shares of the biotechnology company's stock worth $890,000 after acquiring an additional 55,708 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock traded down $2.09 during midday trading on Friday, hitting $16.76. The company's stock had a trading volume of 3,012,546 shares, compared to its average volume of 1,577,474. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $29.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.15 and a quick ratio of 5.15. The company has a 50-day moving average price of $16.34 and a two-hundred day moving average price of $16.34. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -11.97, a PEG ratio of 22.17 and a beta of 0.93.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (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 the consensus estimate of $116.27 million. During the same period last year, the firm posted ($1.02) earnings per share. As a group, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARWR. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Wall Street Zen lowered shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday. Chardan Capital reiterated a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. Finally, Citigroup decreased their target price 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 research 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.

Arrowhead Pharmaceuticals Company 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.