Fisher Asset Management LLC Buys 602,139 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Fisher Asset Management LLC grew its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 133.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,053,794 shares of the biotechnology company’s stock after purchasing an additional 602,139 shares during the period. Fisher Asset Management LLC’s holdings in Arrowhead Pharmaceuticals were worth $36,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada increased 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 purchasing an additional 10,496 shares during the last quarter. AQR Capital Management LLC purchased a new position in Arrowhead Pharmaceuticals during the first quarter worth $514,000. Goldman Sachs Group Inc. increased 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 acquiring an additional 447,456 shares during the last quarter. Empowered Funds LLC grew its holdings 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 last quarter. Finally, Focus Partners Wealth raised its position in Arrowhead Pharmaceuticals by 1,339.5% in the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 15,123 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ARWR. Morgan Stanley boosted their target price on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. The Goldman Sachs Group boosted their price objective on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Bank of America lifted their target price on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Royal Bank Of Canada upped their target price on shares of Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Finally, Chardan Capital lifted their price target on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock opened at $64.10 on Wednesday. The stock’s 50-day moving average is $65.91 and its 200 day moving average is $49.38. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $76.76. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.38 and a quick ratio of 3.38. The company has a market cap of $8.98 billion, a P/E ratio of 41.90 and a beta of 1.23.

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

Insider Buying and Selling

In other news, Director Adeoye Y. Olukotun sold 10,000 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was 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 of the company’s stock, valued at $2,273,376. This trade represents a 22.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mauro Ferrari sold 7,530 shares of the business’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $70.00, for a total value of $527,100.00. Following the sale, the director owned 69,053 shares in the company, valued at $4,833,710. The trade was a 9.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 502,086 shares of company stock valued at $33,109,648 over the last quarter. Insiders own 3.60% of the company’s stock.

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.