Louisiana State Employees Retirement System Makes New $2.55 Million Investment in Arrowhead Pharmaceuticals, Inc. $ARWR

Louisiana State Employees Retirement System purchased a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 40,600 shares of the biotechnology company’s stock, valued at approximately $2,546,000.

A number of other hedge funds have also made changes to their positions in ARWR. Royal Bank of Canada lifted its holdings in Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock worth $576,000 after purchasing an additional 10,496 shares during the last quarter. AQR Capital Management LLC acquired a new position in Arrowhead Pharmaceuticals during the first quarter valued at approximately $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% in the first 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 and hedge funds own 62.61% of the company’s stock.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CFO Daniel Joseph Apel sold 13,095 shares of Arrowhead Pharmaceuticals stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total value of $934,328.25. Following the completion of the transaction, the chief financial officer owned 162,905 shares in the company, valued at approximately $11,623,271.75. The trade was a 7.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Hongbo Lu sold 2,970 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total value of $228,333.60. Following the completion of the transaction, the director directly owned 52,012 shares in the company, valued at approximately $3,998,682.56. This represents a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,065 shares of company stock valued at $1,912,662 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $80.50 on Tuesday. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of -37.44 and a beta of 1.28. The firm’s 50-day moving average price is $75.85 and its two-hundred day moving average price is $68.42. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $14.30 and a 1-year high of $84.55.

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

Analyst Ratings Changes

Several research firms recently issued reports on ARWR. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, March 25th. JPMorgan Chase & Co. began coverage on shares of Arrowhead Pharmaceuticals in a report on Friday, May 1st. They issued an “overweight” rating and a $88.00 target price on the stock. Leerink Partners boosted their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 17th. Morgan Stanley raised Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada lifted their price objective on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $86.36.

Arrowhead Pharmaceuticals Company 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.