Vanguard Group Inc. increased its stake in shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) by 75.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,637,838 shares of the biotechnology company’s stock after buying an additional 3,712,392 shares during the quarter. Vanguard Group Inc. owned about 9.11% of Arrowhead Pharmaceuticals worth $228,903,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Aperio Group LLC acquired a new stake in Arrowhead Pharmaceuticals during the second quarter worth approximately $483,000. JPMorgan Chase & Co. grew its position in Arrowhead Pharmaceuticals by 3.9% during the second quarter. JPMorgan Chase & Co. now owns 315,152 shares of the biotechnology company’s stock worth $9,083,000 after buying an additional 11,907 shares in the last quarter. Rhumbline Advisers grew its position in Arrowhead Pharmaceuticals by 7.2% during the first quarter. Rhumbline Advisers now owns 124,276 shares of the biotechnology company’s stock worth $2,280,000 after buying an additional 8,313 shares in the last quarter. Comerica Bank acquired a new stake in Arrowhead Pharmaceuticals during the second quarter worth approximately $2,527,000. Finally, Elkfork Partners LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 467.6% in the 2nd quarter. Elkfork Partners LLC now owns 13,124 shares of the biotechnology company’s stock valued at $348,000 after purchasing an additional 10,812 shares in the last quarter. 71.91% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on ARWR shares. BidaskClub downgraded Arrowhead Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 10th. Robert W. Baird started coverage on Arrowhead Pharmaceuticals in a report on Wednesday. They issued an “outperform” rating and a $39.00 target price on the stock. B. Riley raised their target price on Arrowhead Pharmaceuticals from $32.00 to $46.00 and gave the company a “buy” rating in a report on Monday, August 19th. ValuEngine downgraded Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $36.70.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.13). Arrowhead Pharmaceuticals had a net margin of 33.28% and a return on equity of 26.27%. The firm had revenue of $42.70 million during the quarter, compared to the consensus estimate of $59.05 million. On average, research analysts predict that Arrowhead Pharmaceuticals Inc will post 0.74 EPS for the current year.
In related news, CEO Christopher Richard Anzalone sold 4,250 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $29.00, for a total transaction of $123,250.00. Following the completion of the transaction, the chief executive officer now directly owns 2,146,153 shares of the company’s stock, valued at approximately $62,238,437. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael S. Perry sold 100,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.90, for a total value of $2,890,000.00. Following the transaction, the director now directly owns 121,000 shares of the company’s stock, valued at $3,496,900. The disclosure for this sale can be found here. Insiders sold a total of 255,895 shares of company stock valued at $7,442,639 over the last quarter. 4.80% of the stock is owned by corporate insiders.
Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.
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