Hsbc Holdings PLC Takes Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Hsbc Holdings PLC purchased a new stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 203,800 shares of the biotechnology company’s stock, valued at approximately $16,765,000. Hsbc Holdings PLC owned 0.14% of Arrowhead Pharmaceuticals as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Arrowhead Pharmaceuticals in the second quarter worth approximately $1,208,838,000. Arrowstreet Capital Limited Partnership increased its position in shares of Arrowhead Pharmaceuticals by 3,142.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after purchasing an additional 2,017,489 shares during the last quarter. Norges Bank acquired a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $113,159,000. Fred Alger Management LLC raised its holdings in Arrowhead Pharmaceuticals by 497.4% in the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after buying an additional 1,526,164 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Arrowhead Pharmaceuticals in the 1st quarter valued at about $64,988,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Stock Down 0.6%

Shares of NASDAQ:ARWR opened at $88.59 on Friday. The firm has a market capitalization of $12.48 billion, a PE ratio of -39.37 and a beta of 1.27. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $21.61 and a 1 year high of $95.49. 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’s 50-day moving average is $83.58 and its two-hundred day moving average is $73.46.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data 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). Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The business had revenue of $75.25 million during the quarter, compared to analyst estimates of $44.17 million. During the same quarter last year, the firm posted ($1.26) EPS. The company’s revenue for the quarter was up 171.0% on a year-over-year basis. Analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, Director Michael S. Perry sold 11,600 shares of the company’s stock in a transaction on 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 owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. This represents a 9.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the 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 sale, the director owned 31,600 shares in the company, valued at approximately $2,747,936. The trade was a 5.95% 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 weighed in on ARWR shares. Leerink Partners lifted their price target on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, June 17th. Royal Bank Of Canada upped their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Stifel Nicolaus began coverage on shares of Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They issued a “buy” rating and a $98.00 target price for the company. HC Wainwright lifted their target price on shares of Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. boosted their target price on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $97.33.

Arrowhead Pharmaceuticals 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.