9,249 Shares in Arrowhead Pharmaceuticals, Inc. $ARWR Acquired by Virtus Advisers LLC

Virtus Advisers LLC acquired a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,249 shares of the biotechnology company’s stock, valued at approximately $754,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vise Technologies Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth $379,000. E Fund Management Co. Ltd. bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth $476,000. Myecfo LLC acquired a new position in Arrowhead Pharmaceuticals in the second quarter valued at about $1,426,000. Citizens Financial Group Inc. RI acquired a new position in Arrowhead Pharmaceuticals in the second quarter valued at about $309,000. Finally, BlackRock Inc. bought a new stake in Arrowhead Pharmaceuticals during the second quarter worth about $1,208,838,000. 62.61% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $87.47 on Friday. The stock’s 50 day moving average is $82.59 and its 200 day moving average is $72.77. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. The firm has a market cap of $12.32 billion, a P/E ratio of -38.88 and a beta of 1.27. Arrowhead Pharmaceuticals, Inc. has a one year low of $19.82 and a one year high of $95.49.

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

Insider Activity

In related news, Director Adeoye Y. Olukotun sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the sale, the director directly owned 31,600 shares of the company’s stock, valued at $2,747,936. The trade was a 5.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael S. Perry sold 11,600 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the sale, the director directly owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. HC Wainwright increased their price objective on shares of Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. 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 research note on Friday, May 8th. Piper Sandler restated an “overweight” rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Finally, Morgan Stanley raised their target price on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $97.33.

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.