Eagle Asset Management Inc. Buys 56,386 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Eagle Asset Management Inc. increased its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRFree Report) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 553,860 shares of the biotechnology company’s stock after buying an additional 56,386 shares during the quarter. Eagle Asset Management Inc. owned 0.45% of Arrowhead Pharmaceuticals worth $16,948,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. FMR LLC grew its stake in Arrowhead Pharmaceuticals by 58.2% in the 3rd quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock valued at $115,780,000 after purchasing an additional 1,584,425 shares during the period. UBS Group AG grew its stake in Arrowhead Pharmaceuticals by 11.7% in the 3rd quarter. UBS Group AG now owns 369,602 shares of the biotechnology company’s stock valued at $9,931,000 after purchasing an additional 38,632 shares during the period. Citigroup Inc. grew its stake in Arrowhead Pharmaceuticals by 57.8% in the 3rd quarter. Citigroup Inc. now owns 161,798 shares of the biotechnology company’s stock valued at $4,348,000 after purchasing an additional 59,279 shares during the period. Norges Bank bought a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at $40,451,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Arrowhead Pharmaceuticals by 12.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,714 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 952 shares during the period. Institutional investors own 62.61% of the company’s stock.

Analyst Ratings Changes

ARWR has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. Citigroup increased their price target on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, May 13th. Morgan Stanley cut their price target on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th. Finally, Chardan Capital reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Check Out Our Latest Analysis on ARWR

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total value of $1,407,600.00. Following the transaction, the chief financial officer now directly owns 400,600 shares of the company’s stock, valued at approximately $14,097,114. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arrowhead Pharmaceuticals news, Director Hongbo Lu acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were purchased at an average cost of $27.50 per share, for a total transaction of $27,500.00. Following the transaction, the director now owns 33,680 shares in the company, valued at $926,200. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total value of $1,407,600.00. Following the completion of the sale, the chief financial officer now owns 400,600 shares in the company, valued at $14,097,114. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Arrowhead Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ ARWR traded up $0.17 during trading hours on Friday, reaching $22.95. 1,047,062 shares of the stock traded hands, compared to its average volume of 977,587. The company has a market capitalization of $2.85 billion, a P/E ratio of -5.40 and a beta of 0.78. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $20.67 and a 52-week high of $39.83. The company’s 50-day simple moving average is $24.67 and its two-hundred day simple moving average is $28.51.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. The company’s revenue was down 100.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.05 earnings per share for the current fiscal year.

About Arrowhead Pharmaceuticals

(Free Report)

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.

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

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