Intech Investment Management LLC Raises Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Intech Investment Management LLC raised its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 160.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 88,661 shares of the biotechnology company’s stock after buying an additional 54,616 shares during the quarter. Intech Investment Management LLC’s holdings in Arrowhead Pharmaceuticals were worth $1,667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ARWR. R Squared Ltd purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth approximately $38,000. Van ECK Associates Corp raised its stake 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 purchasing an additional 1,250 shares during the last quarter. KBC Group NV raised its stake in shares of Arrowhead Pharmaceuticals by 45.9% in the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock worth $98,000 after purchasing an additional 1,644 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Arrowhead Pharmaceuticals in the third quarter worth approximately $149,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth approximately $190,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $14.80 on Friday. The stock has a fifty day simple moving average of $18.58 and a two-hundred day simple moving average of $19.92. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $14.23 and a 1-year high of $30.41. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -2.86 and a beta of 0.92. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.97). Analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, CEO Christopher Richard Anzalone sold 51,425 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $15.07, for a total value of $774,974.75. Following the completion of the transaction, the chief executive officer now directly owns 4,062,377 shares of the company’s stock, valued at $61,220,021.39. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Allen Myszkowski sold 27,167 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.83, for a total value of $538,721.61. Following the completion of the transaction, the chief financial officer now directly owns 473,433 shares of the company’s stock, valued at $9,388,176.39. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,730 shares of company stock valued at $5,352,844 over the last three months. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Citigroup decreased their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Piper Sandler decreased their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.44.

About Arrowhead Pharmaceuticals

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.