Empowered Funds LLC Purchases 119,202 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Empowered Funds LLC lifted its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 661.6% during the first quarter, Holdings Channel reports. The institutional investor owned 137,220 shares of the biotechnology company’s stock after purchasing an additional 119,202 shares during the period. Empowered Funds LLC’s holdings in Arrowhead Pharmaceuticals were worth $8,604,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ARWR. CWM LLC increased its stake in Arrowhead Pharmaceuticals by 1.4% in the 4th quarter. CWM LLC now owns 12,347 shares of the biotechnology company’s stock worth $820,000 after buying an additional 168 shares in the last quarter. First Horizon Corp lifted its position in shares of Arrowhead Pharmaceuticals by 36.2% in the first quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 174 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Arrowhead Pharmaceuticals by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company’s stock worth $737,000 after acquiring an additional 178 shares during the period. Optiver Holding B.V. grew its position in shares of Arrowhead Pharmaceuticals by 83.8% during the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 186 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its stake in Arrowhead Pharmaceuticals by 1.8% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 18,814 shares of the biotechnology company’s stock valued at $1,180,000 after purchasing an additional 335 shares during the period. Institutional investors own 62.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings downgraded Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Stifel Nicolaus initiated coverage on shares of Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price target on the stock. Chardan Capital boosted their price target on shares of Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. B. Riley Financial increased their price objective on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Morgan Stanley raised their price objective on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.33.

Arrowhead Pharmaceuticals Trading Up 1.2%

Shares of ARWR opened at $86.64 on Friday. The stock has a market capitalization of $12.20 billion, a PE ratio of -38.51 and a beta of 1.27. The company’s fifty day moving average is $81.37 and its 200 day moving average is $72.15. The company has a debt-to-equity ratio of 1.77, a quick ratio of 5.90 and a current ratio of 5.90. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $18.73 and a fifty-two week high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The business had revenue of $75.25 million during the quarter, compared to analysts’ expectations of $44.17 million. During the same period in the previous year, the business earned ($1.26) earnings per share. The business’s quarterly revenue was up 171.0% on a year-over-year basis. Sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.51 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.