Rafferty Asset Management LLC Acquires 54,414 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Rafferty Asset Management LLC increased its ownership of Arrowhead Pharmaceuticals by 39.3%, acquiring an additional 54,414 shares, bringing its total to 192,791 shares valued at approximately $2.46 million.
• Arrowhead Pharmaceuticals experienced a 1.4% decline in stock price, currently trading at $22.03, with a market capitalization of $3.05 billion.
• Despite recent losses reported in earnings, analysts remain optimistic, with a consensus Buy rating and an average price target of $43.14 for the stock.

Rafferty Asset Management LLC grew its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 39.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 192,791 shares of the biotechnology company's stock after purchasing an additional 54,414 shares during the period. Rafferty Asset Management LLC owned about 0.14% of Arrowhead Pharmaceuticals worth $2,456,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Comerica Bank raised its holdings in Arrowhead Pharmaceuticals by 17.9% in the first quarter. Comerica Bank now owns 42,343 shares of the biotechnology company's stock worth $539,000 after purchasing an additional 6,422 shares during the period. Pale Fire Capital SE acquired a new stake in Arrowhead Pharmaceuticals in the first quarter worth $156,000. T. Rowe Price Investment Management Inc. raised its holdings in Arrowhead Pharmaceuticals by 0.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,528,982 shares of the biotechnology company's stock worth $32,220,000 after purchasing an additional 21,686 shares during the period. Capital Fund Management S.A. acquired a new stake in Arrowhead Pharmaceuticals in the first quarter worth $2,078,000. Finally, Hsbc Holdings PLC acquired a new stake in Arrowhead Pharmaceuticals in the first quarter worth $173,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Stock Down 1.4%

Shares of ARWR stock opened at $22.03 on Friday. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.39. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $9.57 and a 1 year high of $27.34. The firm's fifty day moving average price is $17.71 and its two-hundred day moving average price is $16.00. The firm has a market capitalization of $3.05 billion, a P/E ratio of -17.21 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The business had revenue of $27.77 million for the quarter, compared to analysts' expectations of $29.01 million. During the same quarter in the prior year, the firm earned ($1.38) EPS. On average, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 9,389 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, August 15th. The shares were sold at an average price of $20.00, for a total value of $187,780.00. Following the sale, the insider directly owned 262,122 shares in the company, valued at approximately $5,242,440. The trade was a 3.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARWR. HC Wainwright reiterated a "buy" rating and issued a $80.00 target price 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 report on Friday, July 18th. Chardan Capital restated a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. B. Riley upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 11th. Finally, TD Cowen upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of "Buy" and an average price target of $43.14.

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.

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