JPMorgan Chase & Co. Grows Position in Arrowhead Pharmaceuticals, Inc. $ARWR

JPMorgan Chase & Co. increased its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 90.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 775,717 shares of the biotechnology company’s stock after purchasing an additional 368,073 shares during the period. JPMorgan Chase & Co.’s holdings in Arrowhead Pharmaceuticals were worth $26,754,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. iSAM Funds UK Ltd bought a new position in Arrowhead Pharmaceuticals during the 3rd quarter valued at about $29,000. Salomon & Ludwin LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the third quarter worth approximately $34,000. Federated Hermes Inc. purchased a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at approximately $52,000. Smartleaf Asset Management LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 2,186.5% during the third quarter. Smartleaf Asset Management LLC now owns 1,692 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 1,618 shares during the last quarter. Finally, Virtus Advisers LLC bought a new position in Arrowhead Pharmaceuticals during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Chardan Capital raised their target price on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Piper Sandler reiterated an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, January 13th. B. Riley Financial increased their price target on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. The Goldman Sachs Group raised their price target on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings upgraded Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.67.

Arrowhead Pharmaceuticals Stock Up 0.6%

Shares of ARWR stock opened at $56.67 on Tuesday. 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, Inc. has a 12 month low of $9.57 and a 12 month high of $76.76. The stock has a market cap of $7.94 billion, a P/E ratio of 37.04 and a beta of 1.23. The company has a 50 day simple moving average of $63.39 and a two-hundred day simple moving average of $52.93.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a return on equity of 35.64% and a net margin of 18.54%.The business had revenue of $264.03 million for the quarter, compared to analysts’ expectations of $225.66 million. During the same quarter in the prior year, the business earned ($1.39) EPS. The company’s revenue was up 10461.3% compared to the same quarter last year. On average, research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mauro Ferrari sold 7,530 shares of the firm’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $70.00, for a total value of $527,100.00. Following the transaction, the director directly owned 69,053 shares of the company’s stock, valued at approximately $4,833,710. This trade represents a 9.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Richard Anzalone sold 51,726 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, December 29th. The shares were sold at an average price of $69.13, for a total value of $3,575,818.38. Following the transaction, the chief executive officer owned 3,805,926 shares in the company, valued at $263,103,664.38. This trade represents a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 172,100 shares of company stock valued at $11,274,732 in the last 90 days. 3.60% of the stock is owned by company insiders.

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.