Fisher Asset Management LLC Acquires 602,139 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Fisher Asset Management LLC grew its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 133.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,053,794 shares of the biotechnology company’s stock after acquiring an additional 602,139 shares during the period. Fisher Asset Management LLC owned about 0.76% of Arrowhead Pharmaceuticals worth $36,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in Arrowhead Pharmaceuticals by 30.2% during the first quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after purchasing an additional 10,496 shares during the period. AQR Capital Management LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the 1st quarter valued at about $514,000. Goldman Sachs Group Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after acquiring an additional 447,456 shares during the period. Empowered Funds LLC increased its holdings in Arrowhead Pharmaceuticals by 6.9% in the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after acquiring an additional 979 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in Arrowhead Pharmaceuticals by 1,339.5% during the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 15,123 shares during the period. 62.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 10th. The Goldman Sachs Group lifted their target price on shares of Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Bank of America increased their price target on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. B. Riley Financial boosted their price objective on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Morgan Stanley upped their price objective on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.67.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, COO Patrick O’brien sold 49,493 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $63.11, for a total value of $3,123,503.23. Following the completion of the transaction, the chief operating officer directly owned 474,908 shares of the company’s stock, valued at approximately $29,971,443.88. This trade represents a 9.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael S. Perry sold 16,250 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $61.03, for a total transaction of $991,737.50. Following the sale, the director directly owned 115,240 shares in the company, valued at approximately $7,033,097.20. The trade was a 12.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 502,086 shares of company stock valued at $33,109,648 over the last quarter. 3.60% of the stock is owned by insiders.

Arrowhead Pharmaceuticals Trading Down 0.4%

Shares of ARWR stock opened at $64.10 on Wednesday. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 41.90 and a beta of 1.23. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $9.57 and a 12-month high of $76.76. The stock’s 50-day moving average price is $65.91 and its 200-day moving average price is $49.38.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, February 5th. The biotechnology company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The firm had revenue of $264.03 million for the quarter, compared to the consensus estimate of $225.66 million. During the same period in the previous year, the company posted ($1.39) earnings per share. Arrowhead Pharmaceuticals’s quarterly revenue was up 10461.3% on a year-over-year basis. Equities research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Arrowhead Pharmaceuticals 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.