The Manufacturers Life Insurance Company Takes Position in Arrowhead Pharmaceuticals, Inc. $ARWR

The Manufacturers Life Insurance Company acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 111,955 shares of the biotechnology company’s stock, valued at approximately $9,125,000.

A number of other large investors have also recently made changes to their positions in the company. Tsfg LLC purchased a new position in Arrowhead Pharmaceuticals in the fourth quarter worth approximately $25,000. Optiver Holding B.V. lifted its position in shares of Arrowhead Pharmaceuticals by 83.8% during the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 186 shares during the last quarter. Versant Capital Management Inc increased its holdings in Arrowhead Pharmaceuticals by 285.1% in the second quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 248 shares during the last quarter. Carolina Wealth Advisors LLC increased its holdings in Arrowhead Pharmaceuticals by 80.6% in the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 154 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in Arrowhead Pharmaceuticals in the third quarter valued at $29,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. HC Wainwright increased their target price on shares of Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Leerink Partners upped their price objective on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, June 17th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Insiders Place Their Bets

In related news, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the sale, the director owned 31,600 shares in the company, valued at $2,747,936. This represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael S. Perry sold 11,600 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the transaction, the director directly owned 111,459 shares in the company, valued at $9,730,370.70. The trade was a 9.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.60% of the stock is owned by corporate insiders.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $84.91 on Friday. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $21.61 and a twelve month high of $95.49. The stock has a 50 day moving average of $83.64 and a two-hundred day moving average of $73.54. The stock has a market cap of $11.96 billion, a P/E ratio of -37.74 and a beta of 1.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The firm had revenue of $75.25 million during the quarter, compared to analyst estimates of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. Arrowhead Pharmaceuticals’s revenue was up 171.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.26) earnings per share. On average, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.51 earnings per share for the current 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.