Arrowhead Pharmaceuticals, Inc. $ARWR Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lowered its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 19.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 114,379 shares of the biotechnology company’s stock after selling 27,546 shares during the period. Rafferty Asset Management LLC’s holdings in Arrowhead Pharmaceuticals were worth $3,945,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Marshall Wace LLP raised its position in Arrowhead Pharmaceuticals by 3,507.8% during the second quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock valued at $34,065,000 after acquiring an additional 2,096,238 shares in the last quarter. Norges Bank purchased a new stake in Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $30,414,000. Vanguard Group Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock worth $553,077,000 after purchasing an additional 510,798 shares during the period. Invesco Ltd. increased its holdings in shares of Arrowhead Pharmaceuticals by 142.8% during the 2nd quarter. Invesco Ltd. now owns 762,665 shares of the biotechnology company’s stock valued at $12,050,000 after purchasing an additional 448,585 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 34.6% in 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. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Adeoye Y. Olukotun sold 10,000 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $67.66, for a total value of $676,600.00. Following the completion of the sale, the director owned 33,600 shares in the company, valued at approximately $2,273,376. This represents a 22.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick O’brien sold 49,493 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $63.11, for a total value of $3,123,503.23. Following the transaction, the chief operating officer owned 474,908 shares in the company, valued at approximately $29,971,443.88. This represents a 9.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 502,086 shares of company stock worth $33,109,648 in the last 90 days. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on ARWR. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 10th. The Goldman Sachs Group raised their target price on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. B. Riley Financial upped their price target on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Bank of America increased their price target on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Finally, Royal Bank Of Canada boosted their price objective on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.67.

Arrowhead Pharmaceuticals Stock Down 0.4%

Shares of ARWR opened at $64.10 on Wednesday. The stock has a 50 day moving average price of $65.91 and a 200 day moving average price of $49.38. Arrowhead Pharmaceuticals, Inc. has a one year low of $9.57 and a one year high of $76.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.38 and a current ratio of 3.38. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 41.90 and a beta of 1.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.38). The business had revenue of $264.03 million for the quarter, compared to analyst estimates of $225.66 million. Arrowhead Pharmaceuticals had a return on equity of 35.64% and a net margin of 18.54%.The company’s revenue for the quarter was up 10461.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.39) EPS. Equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals 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.