Legal & General Group Plc Makes New $19.34 Million Investment in Arrowhead Pharmaceuticals, Inc. $ARWR

Legal & General Group Plc bought a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 237,216 shares of the biotechnology company’s stock, valued at approximately $19,335,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc raised its holdings in Arrowhead Pharmaceuticals by 285.1% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 248 shares during the last quarter. Carolina Wealth Advisors LLC raised its position in shares of Arrowhead Pharmaceuticals by 80.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 154 shares in the last quarter. Tsfg LLC acquired a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $25,000. Optiver Holding B.V. grew 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 buying an additional 186 shares during the period. Finally, Persistent Asset Partners Ltd acquired a new stake in Arrowhead Pharmaceuticals in the second quarter worth $39,000. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Trading Down 4.2%

Shares of ARWR opened at $84.91 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $21.61 and a 1-year high of $95.49. The company has a market capitalization of $11.96 billion, a P/E ratio of -37.74 and a beta of 1.27. The firm’s 50 day simple moving average is $83.64 and its 200 day simple moving average is $73.54.

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms have weighed in on ARWR. Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. Morgan Stanley lifted their price objective on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Royal Bank Of Canada increased their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, May 8th. HC Wainwright lifted their price objective on shares of Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Chardan Capital upped their price objective on shares of Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.33.

About Arrowhead Pharmaceuticals

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.