Mirae Asset Global Investments Co. Ltd. Boosts Stake in Arrowhead Pharmaceuticals, Inc. $ARWR

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 29.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,335 shares of the biotechnology company’s stock after acquiring an additional 1,214 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Arrowhead Pharmaceuticals were worth $84,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ARWR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 138.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company’s stock worth $60,962,000 after acquiring an additional 2,774,933 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Arrowhead Pharmaceuticals by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company’s stock worth $168,201,000 after acquiring an additional 1,018,273 shares in the last quarter. Aberdeen Group plc boosted its stake in shares of Arrowhead Pharmaceuticals by 138.4% during the 1st quarter. Aberdeen Group plc now owns 1,072,827 shares of the biotechnology company’s stock worth $13,668,000 after acquiring an additional 622,752 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake 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 worth $22,189,000 after acquiring an additional 447,456 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Arrowhead Pharmaceuticals during the 1st quarter worth about $5,094,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. B. Riley raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on shares of Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Wall Street Zen downgraded shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $43.14.

Arrowhead Pharmaceuticals Stock Down 1.8%

ARWR stock opened at $35.41 on Monday. The company has a market cap of $4.90 billion, a price-to-earnings ratio of -27.66 and a beta of 1.13. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.39. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $9.57 and a 12 month high of $39.42. The firm has a 50-day moving average of $26.59 and a two-hundred day moving average of $18.98.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.32). The business had revenue of $27.77 million for the quarter, compared to the consensus estimate of $29.01 million. During the same period last year, the firm posted ($1.38) EPS. As a group, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 20,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $35.00, for a total value of $700,000.00. Following the completion of the sale, the insider owned 212,122 shares in the company, valued at approximately $7,424,270. This represents a 8.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 60,000 shares of company stock valued at $1,725,000. 4.30% of the stock is currently owned by corporate insiders.

Arrowhead Pharmaceuticals Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.