Sphera Funds Management LTD. Invests $3.71 Million in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Sphera Funds Management LTD. bought a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the fourth quarter, Holdings Channel reports. The fund bought 197,550 shares of the biotechnology company’s stock, valued at approximately $3,714,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ARWR. Avoro Capital Advisors LLC raised its stake in Arrowhead Pharmaceuticals by 25.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock valued at $208,889,000 after purchasing an additional 2,222,223 shares in the last quarter. Slate Path Capital LP raised its stake in Arrowhead Pharmaceuticals by 7.1% in the fourth quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company’s stock valued at $98,362,000 after purchasing an additional 347,000 shares in the last quarter. Norges Bank acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter worth about $38,622,000. Northern Trust Corp raised its stake in Arrowhead Pharmaceuticals by 11.4% during the fourth quarter. Northern Trust Corp now owns 1,484,419 shares of the biotechnology company’s stock worth $27,907,000 after acquiring an additional 151,654 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Arrowhead Pharmaceuticals by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company’s stock worth $19,133,000 after acquiring an additional 10,785 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. StockNews.com upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Finally, Citigroup reduced their target price on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.13.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 40,322 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $10.07, for a total value of $406,042.54. Following the completion of the sale, the chief executive officer now directly owns 4,022,055 shares of the company’s stock, valued at approximately $40,502,093.85. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 275,880 shares of company stock valued at $4,034,037 over the last ninety days. 4.30% of the stock is owned by company insiders.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $15.34 on Friday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -2.97 and a beta of 0.89. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $9.57 and a 52-week high of $30.41. The stock’s 50 day moving average price is $13.29 and its two-hundred day moving average price is $17.83. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $2.81. The firm had revenue of $542.71 million for the quarter, compared to analyst estimates of $116.27 million. During the same period in the previous year, the company earned ($1.02) earnings per share. On average, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Arrowhead Pharmaceuticals Profile

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.