Royal Bank of Canada Has $3.84 Million Holdings in Arrowhead Pharmaceuticals, Inc. $ARWR

Royal Bank of Canada lifted its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 19.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,316 shares of the biotechnology company’s stock after acquiring an additional 10,120 shares during the period. Royal Bank of Canada’s holdings in Arrowhead Pharmaceuticals were worth $3,844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. M&T Bank Corp increased its holdings in Arrowhead Pharmaceuticals by 2,569.6% during the 4th quarter. M&T Bank Corp now owns 240,634 shares of the biotechnology company’s stock worth $15,976,000 after purchasing an additional 231,620 shares in the last quarter. Siren L.L.C. raised its stake in shares of Arrowhead Pharmaceuticals by 7.7% in the 1st quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company’s stock valued at $101,290,000 after purchasing an additional 115,000 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $2,375,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $2,541,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $912,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARWR has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Morgan Stanley upped their price target on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Weiss Ratings cut shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Sanford C. Bernstein lifted their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada boosted their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.33.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $86.64 on Friday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $18.73 and a 52-week high of $95.49. The company has a market cap of $12.20 billion, a P/E ratio of -38.51 and a beta of 1.27. The company has a debt-to-equity ratio of 1.77, a quick ratio of 5.90 and a current ratio of 5.90. The stock’s 50-day simple moving average is $81.37 and its 200 day simple moving average is $72.15.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The company had revenue of $75.25 million for the quarter, compared to analyst estimates of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The business’s revenue for the quarter was up 171.0% on a year-over-year basis. During the same period last year, the company posted ($1.26) earnings per share. As a group, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current fiscal year.

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.