Public Employees Retirement System of Ohio Invests $3.14 Million in Arrowhead Pharmaceuticals, Inc. $ARWR

Public Employees Retirement System of Ohio purchased a new stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 38,507 shares of the biotechnology company’s stock, valued at approximately $3,139,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Arrowhead Pharmaceuticals during the 2nd quarter valued at about $1,208,838,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Arrowhead Pharmaceuticals by 3,142.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after purchasing an additional 2,017,489 shares during the period. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth approximately $113,159,000. Fred Alger Management LLC boosted its stake 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 purchasing an additional 1,526,164 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in shares of Arrowhead Pharmaceuticals during the second quarter valued at approximately $99,623,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Down 0.2%

Shares of Arrowhead Pharmaceuticals stock opened at $86.34 on Friday. The firm’s 50 day moving average price is $84.11 and its 200-day moving average price is $74.31. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $27.10 and a 52-week high of $95.49. The company has a market cap of $12.16 billion, a P/E ratio of -38.37 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The firm had revenue of $75.25 million for the quarter, compared to analysts’ expectations of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The company’s revenue was up 171.0% on a year-over-year basis. During the same period in the previous year, the company earned ($1.26) EPS. On average, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARWR. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. Stifel Nicolaus assumed coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a “buy” rating and a $98.00 target price for the company. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Leerink Partners lifted their price target on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, June 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.42.

Insiders Place Their Bets

In other news, Director Adeoye Olukotun sold 2,000 shares of the company’s stock in a transaction 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 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 Perry sold 11,600 shares of the stock in a transaction 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 sale, 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.60% of the company’s stock.

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.