Northern Trust Corp Buys 151,654 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Northern Trust Corp raised its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,484,419 shares of the biotechnology company's stock after buying an additional 151,654 shares during the period. Northern Trust Corp owned about 1.19% of Arrowhead Pharmaceuticals worth $27,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Avoro Capital Advisors LLC grew its position in shares of Arrowhead Pharmaceuticals by 25.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company's stock worth $208,889,000 after buying an additional 2,222,223 shares during the period. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $38,622,000. Slate Path Capital LP raised its stake in shares of Arrowhead Pharmaceuticals by 7.1% in the 4th quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company's stock valued at $98,362,000 after purchasing an additional 347,000 shares during the period. Edgestream Partners L.P. acquired a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $2,264,000. Finally, Wealthfront Advisers LLC bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $2,060,000. Institutional investors own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Stock Performance

ARWR stock traded up $0.23 during mid-day trading on Friday, hitting $15.57. 445,106 shares of the company were exchanged, compared to its average volume of 1,473,998. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $30.41. The stock has a market capitalization of $2.15 billion, a PE ratio of -3.01 and a beta of 0.89. The business has a 50 day simple moving average of $13.29 and a 200-day simple moving average of $17.83. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $2.81. The firm had revenue of $542.71 million for the quarter, compared to the consensus estimate of $116.27 million. During the same quarter last year, the business posted ($1.02) EPS. On average, equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 51,425 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $15.07, for a total transaction of $774,974.75. Following the transaction, the chief executive officer now owns 4,062,377 shares in the company, valued at $61,220,021.39. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 275,880 shares of company stock valued at $4,034,037 in the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ARWR shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. B. Riley reiterated a "buy" rating and set a $38.00 price target (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Chardan Capital reissued a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. Finally, Citigroup cut their price objective on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.13.

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.