306,833 Shares in Arrowhead Pharmaceuticals, Inc. $ARWR Purchased by Fred Alger Management LLC

Fred Alger Management LLC acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 306,833 shares of the biotechnology company’s stock, valued at approximately $10,583,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARWR. Royal Bank of Canada lifted its holdings in Arrowhead Pharmaceuticals by 30.2% during the 1st 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 last quarter. AQR Capital Management LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the first quarter valued at $514,000. Goldman Sachs Group Inc. raised its position in shares of Arrowhead Pharmaceuticals by 34.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after purchasing an additional 447,456 shares during the period. Empowered Funds LLC raised its position in shares of Arrowhead Pharmaceuticals by 6.9% in the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock valued at $194,000 after purchasing an additional 979 shares during the period. Finally, Focus Partners Wealth lifted its stake in shares of 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 buying an additional 15,123 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Analysts Set New Price Targets

ARWR has been the topic of a number of research reports. Bank of America upped their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. B. Riley Financial raised their price objective on shares of Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings upgraded Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, February 6th. The Goldman Sachs Group upped their target price on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Finally, Royal Bank Of Canada increased their target price on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.67.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, COO Patrick O’brien sold 49,493 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $63.11, for a total value of $3,123,503.23. Following the sale, the chief operating officer directly owned 474,908 shares of the company’s stock, valued at $29,971,443.88. This trade represents a 9.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mauro Ferrari sold 7,530 shares of Arrowhead Pharmaceuticals stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $70.00, for a total value of $527,100.00. Following the completion of the transaction, the director owned 69,053 shares in the company, valued at approximately $4,833,710. This represents a 9.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 311,538 shares of company stock worth $20,411,342 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $57.37 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $9.57 and a 1 year high of $76.76. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 37.50 and a beta of 1.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.38 and a quick ratio of 3.38. The company’s 50 day simple moving average is $64.34 and its 200 day simple moving average is $51.82.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share 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 business had revenue of $264.03 million during the quarter, compared to analyst estimates of $225.66 million. During the same period in the prior year, the business posted ($1.39) EPS. The company’s revenue for the quarter was up 10461.3% compared to the same quarter last year. As a group, research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

About Arrowhead Pharmaceuticals

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.