OP Asset Management Ltd Takes Position in Arrowhead Pharmaceuticals, Inc. $ARWR

OP Asset Management Ltd bought a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,842 shares of the biotechnology company’s stock, valued at approximately $680,000.

A number of other hedge funds also recently bought and sold shares of ARWR. Diversified Trust Co purchased a new stake in Arrowhead Pharmaceuticals in the 1st quarter worth approximately $2,166,000. Corient Private Wealth LLC increased its stake in shares of Arrowhead Pharmaceuticals by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 18,226 shares of the biotechnology company’s stock valued at $1,210,000 after buying an additional 551 shares during the period. Bank of Hawaii bought a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $1,276,000. Invesco Ltd. raised its holdings in shares of Arrowhead Pharmaceuticals by 8.9% during the fourth quarter. Invesco Ltd. now owns 547,758 shares of the biotechnology company’s stock valued at $36,366,000 after acquiring an additional 44,866 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Arrowhead Pharmaceuticals in the fourth quarter worth $352,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ARWR shares. JPMorgan Chase & Co. started coverage on shares of Arrowhead Pharmaceuticals in a report on Friday, May 1st. They issued an “overweight” rating and a $88.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, March 25th. Chardan Capital reaffirmed a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. Weiss Ratings cut shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Finally, Leerink Partners lifted 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. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.27.

Arrowhead Pharmaceuticals Trading Up 1.3%

ARWR opened at $81.51 on Wednesday. The stock has a market cap of $11.48 billion, a PE ratio of -37.91 and a beta of 1.28. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. The business has a 50 day moving average of $76.09 and a 200-day moving average of $68.51. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $14.30 and a 52 week high of $84.55.

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

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 10,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the sale, the insider owned 226,958 shares in the company, valued at approximately $17,021,850. The trade was a 4.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hongbo Lu sold 2,970 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total transaction of $228,333.60. Following the completion of the sale, the director directly owned 52,012 shares in the company, valued at $3,998,682.56. This represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 26,065 shares of company stock valued at $1,912,662. 3.60% of the stock is currently owned by company insiders.

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.