VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Virginia Retirement Systems acquired 43,350 Arrowhead Pharmaceuticals shares worth approximately $3.53 million, while institutional investors collectively own 62.61% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $99.15; recent targets range from $72 to $126.
• Arrowhead reported quarterly revenue of $75.25 million, up 171% year over year and above estimates, but missed on earnings with a loss of $1.36 per share versus the expected $1.23 loss.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 43,350 shares of the biotechnology company's stock, valued at approximately $3,533,000.

Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Arrowhead Pharmaceuticals by 30.2% in the first quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company's stock valued at $576,000 after acquiring an additional 10,496 shares during the period. AQR Capital Management LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 1st quarter worth approximately $514,000. Goldman Sachs Group Inc. boosted its position in Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company's stock valued at $22,189,000 after purchasing an additional 447,456 shares during the period. Empowered Funds LLC boosted its position in Arrowhead Pharmaceuticals by 6.9% during the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company's stock valued at $194,000 after purchasing an additional 979 shares during the period. Finally, Focus Partners Wealth grew its stake in Arrowhead Pharmaceuticals by 1,339.5% during the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company's stock worth $207,000 after buying an additional 15,123 shares during the last quarter. Institutional investors own 62.61% of the company's stock.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the transaction, the director directly owned 31,600 shares of the company's stock, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael S. Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the transaction, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. This trade represents a 9.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ARWR shares. Leerink Partners raised their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a "market perform" rating in a research note on Wednesday, June 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Sanford C. Bernstein boosted their target price on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a "market perform" rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. upped their target price on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Finally, Stifel Nicolaus initiated coverage on Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They set a "buy" rating and a $98.00 price objective for the company. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $99.15.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $82.63 on Thursday. The firm has a 50-day moving average price of $84.34 and a 200 day moving average price of $74.82. The firm has a market capitalization of $11.64 billion, a PE ratio of -36.72 and a beta of 1.28. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $27.80 and a 52-week high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.13). The company had revenue of $75.25 million for the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The firm's quarterly revenue was up 171.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.26) earnings per share. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.62 earnings per share for the current fiscal 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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