Kornitzer Capital Management Inc. KS Makes New Investment in Arrowhead Pharmaceuticals, Inc. $ARWR

Kornitzer Capital Management Inc. KS purchased a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 4th quarter, Holdings Channel.com reports. The fund purchased 35,780 shares of the biotechnology company’s stock, valued at approximately $2,375,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Arrowhead Pharmaceuticals by 3.3% during the third quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock worth $553,077,000 after acquiring an additional 510,798 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in Arrowhead Pharmaceuticals by 2.8% during the third quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock worth $375,941,000 after acquiring an additional 300,000 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Arrowhead Pharmaceuticals by 3,142.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after acquiring an additional 2,017,489 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Arrowhead Pharmaceuticals by 34.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after acquiring an additional 447,456 shares during the last quarter. Finally, Baker BROS. Advisors LP increased its stake in Arrowhead Pharmaceuticals by 77.9% during the third quarter. Baker BROS. Advisors LP now owns 1,670,762 shares of the biotechnology company’s stock worth $57,625,000 after acquiring an additional 731,588 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. The Goldman Sachs Group upped their price target on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Piper Sandler restated an “overweight” rating and set a $110.00 price target (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, January 13th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, March 25th. JPMorgan Chase & Co. started coverage on Arrowhead Pharmaceuticals in a research note on Friday. They set an “overweight” rating and a $88.00 price target for the company. Finally, Weiss Ratings raised Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.20.

Insider Activity

In other news, insider James C. Hamilton sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the sale, the insider owned 226,958 shares of the company’s stock, valued at $17,021,850. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at $11,623,271.75. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 33,095 shares of company stock valued at $2,326,228 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $74.81 on Friday. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $12.44 and a 1-year high of $76.76. The business has a 50-day moving average of $63.47 and a 200-day moving average of $59.36. 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 has a market capitalization of $10.48 billion, a price-to-earnings ratio of 48.90 and a beta of 1.28.

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 the consensus estimate of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a return on equity of 35.64% and a net margin of 18.54%.The company had revenue of $264.03 million during the quarter, compared to analysts’ expectations of $225.66 million. During the same period in the previous year, the company earned ($1.39) EPS. Arrowhead Pharmaceuticals’s quarterly revenue was up 10461.3% on a year-over-year basis. On average, equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.37 EPS for the current fiscal year.

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.