Horizon Investments LLC Invests $710,000 in Arrowhead Pharmaceuticals, Inc. $ARWR

Horizon Investments LLC acquired a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,698 shares of the biotechnology company’s stock, valued at approximately $710,000.

Several other institutional investors have also modified their holdings of the stock. First Horizon Corp purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at $32,000. WPG Advisers LLC raised its position in Arrowhead Pharmaceuticals by 384.8% in the 4th quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 431 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in Arrowhead Pharmaceuticals in the 3rd quarter valued at $29,000. Danske Bank A S purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at $60,000. Finally, Federated Hermes Inc. purchased a new stake in Arrowhead Pharmaceuticals in the 3rd quarter valued at $52,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Insider Activity

In related news, insider James C. Hamilton sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the insider owned 226,958 shares in the company, valued at approximately $17,021,850. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the firm’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 transaction of $934,328.25. Following the completion of the transaction, the chief financial officer owned 162,905 shares in the company, 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. Over the last quarter, insiders have sold 33,095 shares of company stock worth $2,326,228. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $77.95 on Friday. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 50.95 and a beta of 1.28. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $12.44 and a 52 week high of $79.48. The company’s 50-day moving average price is $64.30 and its 200 day moving average price is $60.36. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.18. The company had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The firm’s quarterly revenue was down 86.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.75 EPS. As a group, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ARWR shares. Morgan Stanley upgraded shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $78.00 to $100.00 in a research report on Tuesday, April 21st. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. JPMorgan Chase & Co. started coverage on shares of Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an “overweight” rating and a $88.00 price objective for the company. B. Riley Financial upped their price objective on shares of Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings upgraded shares of Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.20.

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.