The Manufacturers Life Insurance Company Has $10.06 Million Stock Holdings in Arrowhead Pharmaceuticals, Inc. $ARWR

The Manufacturers Life Insurance Company boosted its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 63.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,422 shares of the biotechnology company’s stock after buying an additional 62,271 shares during the period. The Manufacturers Life Insurance Company’s holdings in Arrowhead Pharmaceuticals were worth $10,058,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its stake in Arrowhead Pharmaceuticals by 3,142.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after buying an additional 2,017,489 shares during the period. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $113,159,000. Fred Alger Management LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 497.4% during the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after acquiring an additional 1,526,164 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the first quarter worth approximately $64,988,000. Finally, Deerfield Management Company L.P. acquired a new position in shares of Arrowhead Pharmaceuticals during the third quarter worth approximately $34,249,000. 62.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ARWR shares. HC Wainwright increased their target price on Arrowhead Pharmaceuticals from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Sanford C. Bernstein upped their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Weiss Ratings lowered shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Finally, B. Riley Financial boosted their target price on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $86.01 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $15.01 and a 52 week high of $95.49. The company’s 50 day moving average price is $79.26 and its two-hundred day moving average price is $70.85. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. The stock has a market cap of $12.12 billion, a P/E ratio of -40.00 and a beta of 1.26.

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 the consensus estimate of ($1.10) by $0.17. The company had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.Arrowhead Pharmaceuticals’s quarterly revenue was down 86.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.75 earnings per share. On average, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.11 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction 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 sale, the director directly owned 52,012 shares in the company, valued at $3,998,682.56. The trade was a 5.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is owned by 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.