Norges Bank Invests $113.16 Million in Arrowhead Pharmaceuticals, Inc. $ARWR

Norges Bank acquired a new stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,704,464 shares of the biotechnology company’s stock, valued at approximately $113,159,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in 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 buying an additional 10,496 shares in the last quarter. AQR Capital Management LLC bought a new stake in Arrowhead Pharmaceuticals during the 1st quarter valued at about $514,000. Goldman Sachs Group Inc. lifted its holdings in 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 buying an additional 447,456 shares in the last quarter. Empowered Funds LLC lifted its holdings in Arrowhead Pharmaceuticals by 6.9% during the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 979 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings 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 valued at $207,000 after buying an additional 15,123 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ARWR shares. Weiss Ratings lowered shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Wall Street Zen lowered shares of Arrowhead Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, March 25th. Royal Bank Of Canada lifted their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Sanford C. Bernstein lifted their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.80.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total value of $228,333.60. Following the transaction, the director owned 52,012 shares of the company’s stock, valued at $3,998,682.56. The trade was a 5.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James C. Hamilton sold 10,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the transaction, the insider directly owned 226,958 shares in the company, valued at approximately $17,021,850. The trade was a 4.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,065 shares of company stock valued at $1,912,662 in the last 90 days. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Stock Up 3.6%

Shares of Arrowhead Pharmaceuticals stock opened at $75.16 on Friday. The firm’s 50 day moving average price is $70.91 and its 200-day moving average price is $65.47. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $14.30 and a 52-week high of $82.26. The company has a market cap of $10.59 billion, a P/E ratio of -34.96 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The firm had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. During the same quarter in the previous year, the firm earned $2.75 EPS. The company’s quarterly revenue was down 86.4% compared to the same quarter last year. On average, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3 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.