Sierra Summit Advisors LLC Invests $900,000 in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Sierra Summit Advisors LLC opened a new position in Arrowhead Pharmaceuticals during the first quarter, buying 14,353 shares worth about $900,000.
• Wall Street sentiment remains constructive: several firms raised price targets, and Arrowhead now has a consensus Moderate Buy rating with an average target price of $87.27.
• Arrowhead’s latest earnings beat estimates, but results were still weak year over year, with revenue down 86.4% and analysts expecting a full-year loss of $3 per share.

Sierra Summit Advisors LLC purchased a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,353 shares of the biotechnology company's stock, valued at approximately $900,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tsfg LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth approximately $25,000. First Horizon Corp acquired a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at $32,000. WPG Advisers LLC increased its position in Arrowhead Pharmaceuticals by 384.8% during the fourth quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company's stock worth $36,000 after buying an additional 431 shares in the last quarter. Hantz Financial Services Inc. increased its position in Arrowhead Pharmaceuticals by 177.1% during the fourth quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company's stock worth $49,000 after buying an additional 471 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $54,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ARWR. Leerink Partners upped their price objective on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a "market perform" rating in a research report on Wednesday, June 17th. Sanford C. Bernstein lifted their price objective on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. began coverage on shares of Arrowhead Pharmaceuticals in a research note on Friday, May 1st. They issued an "overweight" rating and a $88.00 target price for the company. Morgan Stanley upgraded shares of Arrowhead Pharmaceuticals from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $78.00 to $100.00 in a report on Tuesday, April 21st. Finally, HC Wainwright reaffirmed a "buy" rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $87.27.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, CFO Daniel Joseph Apel sold 13,095 shares of the firm's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total value of $934,328.25. Following the sale, the chief financial officer directly owned 162,905 shares of the company's stock, valued at approximately $11,623,271.75. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James C. Hamilton sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the sale, the insider owned 226,958 shares of the company's stock, valued at approximately $17,021,850. The trade was a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,065 shares of company stock worth $1,912,662 in the last 90 days. 3.60% of the stock is owned by company insiders.

Arrowhead Pharmaceuticals Trading Up 4.4%

Shares of Arrowhead Pharmaceuticals stock opened at $83.99 on Friday. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $14.30 and a fifty-two week high of $84.55. The business's fifty day moving average is $76.57 and its two-hundred day moving average is $68.67. 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 firm has a market cap of $11.83 billion, a PE ratio of -39.06 and a beta of 1.26.

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

Arrowhead Pharmaceuticals Company 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.

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