Arrowhead Pharmaceuticals, Inc. $ARWR Stock: Pinnacle Associates Ltd. Grows Holdings

Pinnacle Associates Ltd. grew its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 9.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 186,267 shares of the biotechnology company’s stock after purchasing an additional 16,136 shares during the period. Pinnacle Associates Ltd. owned about 0.13% of Arrowhead Pharmaceuticals worth $12,191,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter valued at approximately $1,208,838,000. Siren L.L.C. boosted its position in shares of Arrowhead Pharmaceuticals by 7.7% during the first quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company’s stock valued at $101,290,000 after buying an additional 115,000 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Arrowhead Pharmaceuticals by 12.2% during the first quarter. Janus Henderson Group PLC now owns 1,436,990 shares of the biotechnology company’s stock worth $90,119,000 after buying an additional 156,544 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in Arrowhead Pharmaceuticals by 23.8% during the first quarter. Pictet Asset Management Holding SA now owns 1,273,266 shares of the biotechnology company’s stock worth $79,612,000 after buying an additional 244,530 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in Arrowhead Pharmaceuticals during the second quarter worth $99,623,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ARWR shares. Chardan Capital reissued a “buy” rating and issued a $115.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. Stifel Nicolaus initiated coverage on shares of Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price objective on the stock. UBS Group started coverage on shares of Arrowhead Pharmaceuticals in a report on Thursday, October 15th. They set a “buy” rating and a $109.00 price objective on the stock. Morgan Stanley upped their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.07.

Insiders Place Their Bets

In related news, Director Michael Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the sale, the director directly owned 111,459 shares in the company, valued at approximately $9,730,370.70. This trade represents a 9.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Adeoye Olukotun sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the transaction, the director directly owned 31,600 shares in the company, valued at approximately $2,747,936. This represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $58.84 on Thursday. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $36.73 and a 52 week high of $95.49. The company’s 50 day moving average price is $73.73 and its two-hundred day moving average price is $75.90. The stock has a market cap of $8.29 billion, a P/E ratio of -26.15 and a beta of 1.29. 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 (NASDAQ:ARWR) last released its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The business had revenue of $75.25 million during the quarter, compared to the consensus estimate 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 was up 171.0% on a year-over-year basis. During the same period in the prior year, the company earned ($1.26) earnings per share. On average, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.62 earnings per share for the current year.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes using RNA interference (RNAi). The company’s proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi-based therapies to specific tissues and reduce the production of targeted proteins.

Arrowhead’s research and development programs address a range of conditions, including cardiometabolic, pulmonary, liver, and central nervous system diseases.