Baker BROS. Advisors LP Purchases 504,883 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Baker BROS. Advisors LP lifted its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 30.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,175,645 shares of the biotechnology company’s stock after purchasing an additional 504,883 shares during the quarter. Arrowhead Pharmaceuticals comprises about 0.8% of Baker BROS. Advisors LP’s investment portfolio, making the stock its 16th biggest position. Baker BROS. Advisors LP owned about 1.55% of Arrowhead Pharmaceuticals worth $144,441,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in Arrowhead Pharmaceuticals by 3,142.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after acquiring an additional 2,017,489 shares in the last quarter. Norges Bank purchased a new position in Arrowhead Pharmaceuticals in the fourth quarter worth about $113,159,000. Fred Alger Management LLC grew its position in Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after acquiring an additional 1,526,164 shares in the last quarter. Deerfield Management Company L.P. purchased a new position in Arrowhead Pharmaceuticals in the third quarter worth about $34,249,000. Finally, Balyasny Asset Management L.P. purchased a new position in Arrowhead Pharmaceuticals in the third quarter worth about $27,349,000. 62.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ARWR. Sanford C. Bernstein lifted their price target on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Weiss Ratings lowered Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. began coverage on Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They issued an “overweight” rating and a $88.00 price target for the company. Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $78.00 to $100.00 in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered Arrowhead Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued 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 currently has a consensus rating of “Moderate Buy” and an average target price of $86.36.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total transaction of $228,333.60. Following the completion of the transaction, the director owned 52,012 shares in the company, valued at $3,998,682.56. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total value of $934,328.25. Following the completion of the sale, the chief financial officer owned 162,905 shares of the company’s stock, valued at $11,623,271.75. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 26,065 shares of company stock worth $1,912,662 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Stock Up 5.9%

Shares of NASDAQ:ARWR opened at $81.04 on Thursday. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $14.30 and a 1 year high of $82.48. The business has a 50 day simple moving average of $73.49 and a two-hundred day simple moving average of $67.37. The firm has a market capitalization of $11.42 billion, a PE ratio of -37.69 and a beta of 1.28. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The business had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. During the same quarter in the previous year, the business earned $2.75 earnings per share. The company’s revenue for the quarter was down 86.4% compared to the same quarter last year. On average, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3 EPS for the current year.

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.