State of New Jersey Common Pension Fund D Invests $2.82 Million in Arrowhead Pharmaceuticals, Inc. $ARWR

State of New Jersey Common Pension Fund D purchased a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,471 shares of the biotechnology company’s stock, valued at approximately $2,820,000.

A number of other hedge funds have also recently made changes to their positions in the stock. First Horizon Corp bought a new position in Arrowhead Pharmaceuticals during the 4th quarter worth about $32,000. WPG Advisers LLC grew its holdings in Arrowhead Pharmaceuticals by 384.8% during the 4th quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 431 shares in the last quarter. iSAM Funds UK Ltd bought a new position in Arrowhead Pharmaceuticals during the 3rd quarter worth about $29,000. Federated Hermes Inc. bought a new position in Arrowhead Pharmaceuticals during the 3rd quarter worth about $52,000. Finally, Smartleaf Asset Management LLC grew its holdings in Arrowhead Pharmaceuticals by 2,186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,692 shares of the biotechnology company’s stock worth $57,000 after acquiring an additional 1,618 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARWR has been the topic of several recent research reports. Chardan Capital increased their target price on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Morgan Stanley upgraded shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $100.00 in a report on Tuesday, April 21st. Weiss Ratings upgraded shares of Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, February 6th. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, March 25th. Finally, B. Riley Financial increased their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $84.20.

Insider Activity

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 10,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the sale, the insider directly owned 226,958 shares of the company’s stock, valued at approximately $17,021,850. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the sale, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at approximately $11,623,271.75. The trade was a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 33,095 shares of company stock valued at $2,326,228. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

ARWR stock opened at $74.93 on Wednesday. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 48.97 and a beta of 1.28. The firm has a 50-day simple moving average of $63.70 and a two-hundred day simple moving average of $59.78. Arrowhead Pharmaceuticals, Inc. has a one year low of $12.44 and a one year high of $77.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.38 and a current ratio of 3.38.

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). The firm had revenue of $264.03 million for the quarter, compared to analysts’ expectations of $225.66 million. Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The business’s quarterly revenue was up 10461.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.39) earnings per share. On average, equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.37 EPS 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.