T. Rowe Price Investment Management Inc. Has $32.22 Million Stock Holdings in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• T. Rowe Price Investment Management Inc. raised its stake in Arrowhead Pharmaceuticals by 0.9%, bringing its total ownership to approximately 1.84% of the company, valued at $32.2 million.
• Arrowhead Pharmaceuticals missed earnings expectations for the last quarter, reporting ($1.26) EPS compared to analyst forecasts of ($0.94), with revenues of $27.77 million.
• Multiple institutional investors, including Vanguard Group and Aberdeen Group, have significantly increased their holdings in Arrowhead Pharmaceuticals, indicating growing confidence in the stock.

T. Rowe Price Investment Management Inc. lifted its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,528,982 shares of the biotechnology company's stock after buying an additional 21,686 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.84% of Arrowhead Pharmaceuticals worth $32,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Arrowhead Pharmaceuticals by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company's stock valued at $168,201,000 after purchasing an additional 1,018,273 shares in the last quarter. Farallon Capital Management LLC bought a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $11,821,000. Aberdeen Group plc lifted its position in shares of Arrowhead Pharmaceuticals by 138.4% during the first quarter. Aberdeen Group plc now owns 1,072,827 shares of the biotechnology company's stock worth $13,668,000 after purchasing an additional 622,752 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Arrowhead Pharmaceuticals by 281.3% during the fourth quarter. Two Sigma Investments LP now owns 794,373 shares of the biotechnology company's stock worth $14,934,000 after purchasing an additional 586,062 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new position in Arrowhead Pharmaceuticals in the first quarter worth about $5,094,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARWR. Citigroup cut their target price on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Royal Bank Of Canada decreased their price target on shares of Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. TD Cowen upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research report on Monday, July 28th. Finally, Chardan Capital reiterated a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $43.14.

Arrowhead Pharmaceuticals Stock Down 2.6%

NASDAQ:ARWR traded down $0.59 during trading hours on Friday, reaching $21.76. The company's stock had a trading volume of 446,979 shares, compared to its average volume of 1,954,820. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -17.02 and a beta of 0.94. Arrowhead Pharmaceuticals, Inc. has a one year low of $9.57 and a one year high of $27.34. The business's 50-day moving average is $17.58 and its 200-day moving average is $16.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing analysts' consensus estimates 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 period last year, the company posted ($1.38) earnings per share. Equities research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 9,389 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $20.00, for a total transaction of $187,780.00. Following the completion of the transaction, the insider owned 262,122 shares of the company's stock, valued at approximately $5,242,440. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.30% of the company's stock.

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.