State of Alaska Department of Revenue Raises Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

State of Alaska Department of Revenue boosted its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 393.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,870 shares of the biotechnology company's stock after buying an additional 55,708 shares during the quarter. State of Alaska Department of Revenue owned 0.05% of Arrowhead Pharmaceuticals worth $890,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ARWR. Handelsbanken Fonder AB grew its stake in shares of Arrowhead Pharmaceuticals by 15.4% in the fourth quarter. Handelsbanken Fonder AB now owns 41,200 shares of the biotechnology company's stock valued at $775,000 after buying an additional 5,500 shares in the last quarter. Amalgamated Bank boosted its holdings in Arrowhead Pharmaceuticals by 3.6% during the 4th quarter. Amalgamated Bank now owns 56,722 shares of the biotechnology company's stock valued at $1,066,000 after acquiring an additional 1,957 shares during the period. Fisher Asset Management LLC grew its position in Arrowhead Pharmaceuticals by 16.9% in the 4th quarter. Fisher Asset Management LLC now owns 142,939 shares of the biotechnology company's stock valued at $2,687,000 after acquiring an additional 20,679 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Arrowhead Pharmaceuticals by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company's stock worth $19,133,000 after purchasing an additional 10,785 shares during the period. Finally, Pinion Investment Advisors LLC purchased a new stake in Arrowhead Pharmaceuticals during the fourth quarter worth about $1,410,000. Hedge funds and other institutional investors own 62.61% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ARWR shares. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Citigroup dropped their price target 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. Finally, Chardan Capital reaffirmed a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.71.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 50,800 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $11.49, for a total value of $583,692.00. Following the transaction, the chief executive officer directly owned 3,921,255 shares of the company's stock, valued at approximately $45,055,219.95. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Arrowhead Pharmaceuticals Stock Up 1.8%

Shares of ARWR traded up $0.29 during midday trading on Tuesday, reaching $16.09. The stock had a trading volume of 1,282,991 shares, compared to its average volume of 1,541,607. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -11.49, a PEG ratio of 18.58 and a beta of 0.93. The company's fifty day simple moving average is $15.23 and its two-hundred day simple moving average is $16.51. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $30.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.15 and a quick ratio of 5.15.

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

About Arrowhead Pharmaceuticals

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.