Empowered Funds LLC Invests $8.81 Million in Arrowhead Pharmaceuticals, Inc. $ARWR

Empowered Funds LLC acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 108,041 shares of the biotechnology company’s stock, valued at approximately $8,806,000. Empowered Funds LLC owned about 0.08% of Arrowhead Pharmaceuticals as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Arrowhead Pharmaceuticals during the second quarter worth approximately $1,208,838,000. Geode Capital Management LLC lifted its position in shares of Arrowhead Pharmaceuticals by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock valued at $216,799,000 after acquiring an additional 133,921 shares in the last quarter. Baker BROS. Advisors LP lifted its holdings in shares of Arrowhead Pharmaceuticals by 30.2% in the fourth quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock valued at $144,441,000 after purchasing an additional 504,883 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Arrowhead Pharmaceuticals by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock worth $138,619,000 after acquiring an additional 6,264 shares in the last quarter. Finally, Fred Alger Management LLC lifted its position in shares of Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after purchasing an additional 1,526,164 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the transaction, the director directly owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael S. Perry sold 11,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the completion of the transaction, the director owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. This represents a 9.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $84.91 on Friday. The company has a market capitalization of $11.96 billion, a P/E ratio of -37.74 and a beta of 1.27. The company’s 50 day moving average price is $83.64 and its two-hundred day moving average price is $73.54. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $21.61 and a 52 week high of $95.49. The company has a debt-to-equity ratio of 1.77, a quick ratio of 5.90 and a current ratio of 5.90.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARWR. Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Morgan Stanley increased their price target on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Royal Bank Of Canada lifted their price objective on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, May 8th. HC Wainwright boosted their target price on Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Sanford C. Bernstein raised their price target 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. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.33.

Arrowhead Pharmaceuticals Company 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.