Fred Alger Management LLC Acquires New Holdings in Arrowhead Pharmaceuticals, Inc. $ARWR

Fred Alger Management LLC bought a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 306,833 shares of the biotechnology company’s stock, valued at approximately $10,583,000. Fred Alger Management LLC owned approximately 0.22% of Arrowhead Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of ARWR. PNC Financial Services Group Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 3.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,924 shares of the biotechnology company’s stock valued at $377,000 after buying an additional 326 shares during the period. State of Wyoming increased its position in shares of Arrowhead Pharmaceuticals by 5.6% in the 3rd quarter. State of Wyoming now owns 9,519 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 504 shares in the last quarter. Arizona State Retirement System raised its stake in Arrowhead Pharmaceuticals by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 32,661 shares of the biotechnology company’s stock worth $1,126,000 after buying an additional 620 shares during the period. CWM LLC lifted its holdings in Arrowhead Pharmaceuticals by 6.7% during the third quarter. CWM LLC now owns 12,179 shares of the biotechnology company’s stock worth $420,000 after acquiring an additional 764 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in Arrowhead Pharmaceuticals during the third quarter worth about $29,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America increased their price target on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Piper Sandler reiterated an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a report on Tuesday, January 13th. Chardan Capital increased their target price on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. The Goldman Sachs Group raised their target price on shares of Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada lifted their price target on shares of Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Arrowhead Pharmaceuticals Stock Up 4.2%

ARWR stock opened at $57.37 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.38 and a quick ratio of 3.38. The stock has a market capitalization of $8.03 billion, a P/E ratio of 37.50 and a beta of 1.23. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $76.76. The business has a 50-day moving average of $64.34 and a 200-day moving average of $51.82.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The firm had revenue of $264.03 million during the quarter, compared to analyst estimates of $225.66 million. During the same period in the prior year, the business posted ($1.39) EPS. The firm’s quarterly revenue was up 10461.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Patrick O’brien sold 49,493 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $63.11, for a total value of $3,123,503.23. Following the completion of the transaction, the chief operating officer owned 474,908 shares of the company’s stock, valued at approximately $29,971,443.88. This trade represents a 9.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mauro Ferrari sold 7,530 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, December 26th. The shares were sold at an average price of $70.00, for a total transaction of $527,100.00. Following the completion of the sale, the director owned 69,053 shares in the company, valued at $4,833,710. The trade was a 9.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 311,538 shares of company stock valued at $20,411,342 over the last ninety days. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Company 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.