Fisher Asset Management LLC Has $87.09 Million Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Fisher Asset Management LLC increased its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 24.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,311,727 shares of the biotechnology company’s stock after purchasing an additional 257,933 shares during the period. Fisher Asset Management LLC’s holdings in Arrowhead Pharmaceuticals were worth $87,086,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada raised its holdings in Arrowhead Pharmaceuticals by 30.2% during the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock worth $576,000 after buying an additional 10,496 shares during the period. AQR Capital Management LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the first quarter valued at approximately $514,000. Goldman Sachs Group Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 34.6% in 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 buying an additional 447,456 shares during the period. Empowered Funds LLC increased its position in shares of Arrowhead Pharmaceuticals by 6.9% during the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after acquiring an additional 979 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Arrowhead Pharmaceuticals by 1,339.5% during the first quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 15,123 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Stock Performance

ARWR opened at $74.95 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $14.30 and a 52-week high of $82.26. The firm has a market capitalization of $10.56 billion, a PE ratio of -34.86 and a beta of 1.28. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. The business’s 50-day simple moving average is $67.81 and its 200 day simple moving average is $63.47.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The firm had revenue of $73.74 million during the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The business’s revenue was down 86.4% compared to the same quarter last year. During the same period last year, the company earned $2.75 earnings per share. As a group, sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARWR has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, March 25th. Weiss Ratings downgraded Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $78.00 to $100.00 in a report on Tuesday, April 21st. Royal Bank Of Canada upped their price objective on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Sanford C. Bernstein lifted their target price on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.80.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the sale, the director directly owned 52,012 shares of the company’s stock, valued at approximately $3,998,682.56. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James C. Hamilton sold 10,000 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the sale, the insider directly owned 226,958 shares in the company, valued at $17,021,850. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 36,065 shares of company stock valued at $2,554,562. 3.60% of the stock is owned by insiders.

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.