Wealth Effects LLC Buys New Stake in Arrowhead Pharmaceuticals, Inc. $ARWR

Wealth Effects LLC purchased a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 147,300 shares of the biotechnology company’s stock, valued at approximately $12,006,000. Arrowhead Pharmaceuticals accounts for about 3.2% of Wealth Effects LLC’s holdings, making the stock its 7th largest position.

A number of other hedge funds also recently bought and sold shares of ARWR. Royal Bank of Canada grew its stake in shares of Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock worth $576,000 after buying an additional 10,496 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 1st quarter worth about $514,000. Goldman Sachs Group Inc. raised its position in shares of Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after buying an additional 447,456 shares in the last quarter. Empowered Funds LLC raised its position in shares of Arrowhead Pharmaceuticals by 6.9% during the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 979 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Arrowhead Pharmaceuticals by 1,339.5% in the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 15,123 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $86.64 on Monday. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $18.73 and a 12 month high of $95.49. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of -38.51 and a beta of 1.27. The firm’s 50-day moving average is $81.37 and its 200 day moving average is $72.19.

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

Analyst Ratings Changes

Several research analysts recently commented on ARWR shares. Leerink Partners boosted their price objective on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. raised their price objective on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Weiss Ratings cut Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Piper Sandler restated an “overweight” rating and set a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.