Strs Ohio Purchases 1,900 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Strs Ohio raised its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 7.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,500 shares of the biotechnology company’s stock after purchasing an additional 1,900 shares during the quarter. Strs Ohio’s holdings in Arrowhead Pharmaceuticals were worth $872,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Louisiana State Employees Retirement System bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $921,000. WCM Investment Management LLC increased its holdings in Arrowhead Pharmaceuticals by 13.6% during the 4th quarter. WCM Investment Management LLC now owns 172,865 shares of the biotechnology company’s stock worth $5,359,000 after purchasing an additional 20,635 shares in the last quarter. Friedenthal Financial bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $51,000. International Assets Investment Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth approximately $443,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Arrowhead Pharmaceuticals by 351.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,429 shares of the biotechnology company’s stock valued at $380,000 after purchasing an additional 9,676 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu bought 1,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was purchased at an average price of $27.49 per share, for a total transaction of $27,490.00. Following the completion of the transaction, the director now directly owns 31,680 shares of the company’s stock, valued at $870,883.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total value of $1,407,600.00. Following the completion of the transaction, the chief financial officer now directly owns 400,600 shares in the company, valued at $14,097,114. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Hongbo Lu acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average cost of $27.49 per share, for a total transaction of $27,490.00. Following the acquisition, the director now directly owns 31,680 shares in the company, valued at approximately $870,883.20. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on ARWR shares. Citigroup lifted their target price on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. Morgan Stanley raised their price target on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Bank of America boosted their price target on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.45.

Arrowhead Pharmaceuticals Stock Down 2.1 %

Shares of ARWR stock opened at $23.29 on Thursday. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $20.67 and a 12-month high of $42.48. The company has a 50 day moving average of $28.40 and a 200-day moving average of $28.92. The firm has a market cap of $2.89 billion, a P/E ratio of -8.38 and a beta of 0.71.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.46). Arrowhead Pharmaceuticals had a negative return on equity of 90.77% and a negative net margin of 163.32%. The firm had revenue of $3.55 million during the quarter, compared to analysts’ expectations of $35.60 million. During the same period in the prior year, the business earned ($0.39) earnings per share. The business’s quarterly revenue was down 94.3% compared to the same quarter last year. As a group, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.7 EPS 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.