Wealth Effects LLC Buys New Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Wealth Effects LLC acquired 147,300 shares of Arrowhead Pharmaceuticals in the second quarter, valued at approximately $12.0 million and representing 3.2% of its portfolio. Institutional investors collectively own 62.61% of ARWR.
• Analyst sentiment is broadly positive: nine analysts rate the stock a Buy, three Hold, and one Sell, resulting in a consensus “Moderate Buy” rating and an average price target of $97.33.
• Arrowhead reported quarterly revenue of $75.25 million, up 171% year over year and above expectations, but its EPS loss of $1.36 missed estimates. Shares recently opened at $86.64, versus a 52-week range of $18.73 to $95.49.

Wealth Effects LLC bought a new stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 147,300 shares of the biotechnology company's stock, valued at approximately $12,006,000. Arrowhead Pharmaceuticals comprises approximately 3.2% of Wealth Effects LLC's holdings, making the stock its 7th largest position. Wealth Effects LLC owned about 0.10% of Arrowhead Pharmaceuticals at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Arrowhead Pharmaceuticals by 30.2% during the 1st 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 position in Arrowhead Pharmaceuticals in the 1st quarter worth $514,000. Goldman Sachs Group Inc. lifted its position in Arrowhead Pharmaceuticals by 34.6% during the first 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 in the last quarter. Empowered Funds LLC grew its stake in shares of 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 acquiring an additional 979 shares during the period. Finally, Focus Partners Wealth grew its stake in shares of Arrowhead Pharmaceuticals by 1,339.5% during the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company's stock valued at $207,000 after acquiring an additional 15,123 shares during the period. 62.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on ARWR shares. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. JPMorgan Chase & Co. upped their price target 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. Stifel Nicolaus started coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They issued a "buy" rating and a $98.00 price objective for the company. B. Riley Financial raised their price objective on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Morgan Stanley lifted their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $97.33.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock opened at $86.64 on Monday. The stock has a market cap of $12.20 billion, a P/E ratio of -38.51 and a beta of 1.27. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $18.73 and a 52 week high of $95.49. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. The company's fifty day simple moving average is $81.37 and its two-hundred day simple moving average is $72.19.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The firm had revenue of $75.25 million for the quarter, compared to analysts' expectations of $44.17 million. During the same quarter in the previous year, the business earned ($1.26) EPS. The company's revenue for the quarter was up 171.0% on a year-over-year basis. Analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source