State of New Jersey Common Pension Fund D Increases Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

State of New Jersey Common Pension Fund D lifted its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 40.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,858 shares of the biotechnology company’s stock after buying an additional 32,551 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.09% of Arrowhead Pharmaceuticals worth $2,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth about $38,000. Values First Advisors Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals in the third quarter worth about $52,000. Van ECK Associates Corp lifted its holdings in shares of Arrowhead Pharmaceuticals by 72.3% in the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock worth $56,000 after buying an additional 1,250 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Arrowhead Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 788 shares in the last quarter. Finally, KBC Group NV raised its stake in Arrowhead Pharmaceuticals by 45.9% in the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 1,644 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ARWR. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Sanford C. Bernstein lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $41.44.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 2,850 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, December 27th. The shares were sold at an average price of $20.00, for a total value of $57,000.00. Following the sale, the director now owns 36,740 shares in the company, valued at $734,800. The trade was a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher Richard Anzalone sold 11,520 shares of Arrowhead Pharmaceuticals stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total transaction of $219,456.00. Following the completion of the sale, the chief executive officer now owns 3,764,252 shares in the company, valued at approximately $71,709,000.60. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,432 shares of company stock worth $2,957,986. Insiders own 4.30% of the company’s stock.

Arrowhead Pharmaceuticals Stock Down 5.1 %

Shares of NASDAQ ARWR opened at $19.90 on Friday. Arrowhead Pharmaceuticals, Inc. has a one year low of $17.05 and a one year high of $36.72. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09. The firm’s 50 day simple moving average is $19.77 and its two-hundred day simple moving average is $20.89. The stock has a market capitalization of $2.51 billion, a P/E ratio of -3.85 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.97). As a group, analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Arrowhead Pharmaceuticals Company 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.