BlueMountain Capital Management LLC acquired a new position in Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,855 shares of the biotechnology company’s stock, valued at approximately $188,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth about $100,000. Great West Life Assurance Co. Can bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth about $106,000. Trexquant Investment LP bought a new position in shares of Arrowhead Pharmaceuticals in the first quarter worth about $139,000. Amalgamated Bank bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth about $181,000. Finally, Legal & General Group Plc bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth about $188,000. 58.77% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on ARWR. Chardan Capital increased their target price on Arrowhead Pharmaceuticals from $17.50 to $24.50 and gave the stock a “buy” rating in a research report on Thursday, September 6th. Jefferies Financial Group increased their target price on Arrowhead Pharmaceuticals to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. B. Riley upgraded Arrowhead Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their target price for the stock from $18.00 to $19.00 in a research report on Thursday, September 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, August 8th. Finally, BidaskClub cut Arrowhead Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 16th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $19.03.

NASDAQ:ARWR opened at $18.70 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.69 and a quick ratio of 8.69. Arrowhead Pharmaceuticals Inc has a 12-month low of $3.01 and a 12-month high of $22.39. The stock has a market cap of $1.56 billion, a P/E ratio of -39.79 and a beta of 1.91.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.01. Arrowhead Pharmaceuticals had a negative return on equity of 59.39% and a negative net margin of 400.13%. The firm had revenue of $0.73 million during the quarter, compared to analysts’ expectations of $0.62 million. research analysts anticipate that Arrowhead Pharmaceuticals Inc will post -0.64 EPS for the current year.

In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $19.34, for a total transaction of $870,300.00. Following the completion of the transaction, the chief financial officer now owns 335,815 shares in the company, valued at approximately $6,494,662.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Richard Anzalone sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $14.45, for a total value of $1,445,000.00. Following the transaction, the chief executive officer now owns 1,868,789 shares of the company’s stock, valued at approximately $27,004,001.05. The disclosure for this sale can be found here. Insiders have sold 309,834 shares of company stock valued at $4,697,151 in the last quarter. 4.60% of the stock is currently owned by company insiders.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. Its pre-clinical stage medicines include ARO-HBV to treat chronic hepatitis B virus infection; ARO-AAT for the treatment of liver disease associated with alpha-1 antitrypsin deficiency; ARO-APOC3 and ARO-ANG3 to treat hypertriglyceridemia; ARO-Lung1 for the treatment of an undisclosed pulmonary target; ARO-HIF2 to treat renal cell carcinoma; ARO-F12 for hereditary angioedema and thromboembolic disorders; and ARO-AMG1 for the treatment of an undisclosed genetically validated cardiovascular target.

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Institutional Ownership by Quarter for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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