Van ECK Associates Corp Buys 92,610 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Van ECK Associates Corp increased its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 490.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,500 shares of the biotechnology company’s stock after buying an additional 92,610 shares during the quarter. Van ECK Associates Corp’s holdings in Arrowhead Pharmaceuticals were worth $9,088,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $1,208,838,000. Geode Capital Management LLC increased its position in shares of Arrowhead Pharmaceuticals by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock valued at $216,799,000 after purchasing an additional 133,921 shares during the period. Baker BROS. Advisors LP raised its stake in shares of Arrowhead Pharmaceuticals by 30.2% in the fourth quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock valued at $144,441,000 after purchasing an additional 504,883 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Arrowhead Pharmaceuticals by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock valued at $138,619,000 after purchasing an additional 6,264 shares in the last quarter. Finally, Fred Alger Management LLC lifted its position in Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after purchasing an additional 1,526,164 shares during the period. 62.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total value of $1,012,680.00. Following the completion of the transaction, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Adeoye Y. Olukotun sold 2,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the transaction, the director owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.60% of the company’s stock.

Key Headlines Impacting Arrowhead Pharmaceuticals

Here are the key news stories impacting Arrowhead Pharmaceuticals this week:

• Positive Sentiment: Phase 3 SHASTA-3 and SHASTA-4 results indicated that plozasiran reduced acute pancreatitis episodes in patients with severe hypertriglyceridemia. The 12-month data strengthen the investment case for the program and could improve confidence in its commercial potential. Arrowhead Pharmaceuticals presents Phase 3 SHASTA-3 and SHASTA-4 data
• Positive Sentiment: HC Wainwright reaffirmed a “buy” rating and set a $120 price target, implying roughly 45% potential upside from the referenced share price.
• Positive Sentiment: Chardan Capital also reaffirmed its “buy” rating, with a $115 target representing approximately 39% upside, while RBC maintained an “outperform” rating and a $100 target, or about 21% upside. The cluster of bullish targets signals continued Wall Street confidence in ARWR’s pipeline. Analysts are bullish on Arrowhead Pharmaceuticals and BioNTech
• Neutral Sentiment: The company’s discussion of 12-month SHASTA-3 and SHASTA-4 results provides additional clinical detail, but the transcript itself does not represent a new regulatory approval or commercial launch. Arrowhead discusses SHASTA-3 and SHASTA-4 12-month results

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $82.74 on Wednesday. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of -36.77 and a beta of 1.28. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $22.73 and a 1-year high of $95.49. The firm’s 50-day moving average price is $83.71 and its two-hundred day moving average price is $73.91.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The firm had revenue of $75.25 million during the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The business’s revenue was up 171.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.26) EPS. On average, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ARWR. Royal Bank Of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday. B. Riley Financial increased their price objective on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Morgan Stanley lifted their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Leerink Partners upped their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, June 17th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.42.

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.