Renaissance Technologies LLC Acquires Shares of 1,036,495 Arrowhead Pharmaceuticals, Inc. $ARWR

Renaissance Technologies LLC acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 1st quarter, Holdings Channel.com reports. The fund acquired 1,036,495 shares of the biotechnology company’s stock, valued at approximately $64,988,000.

A number of other hedge funds also recently modified their holdings of ARWR. Geode Capital Management LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after buying an additional 133,921 shares during the period. Baker BROS. Advisors LP grew its stake in Arrowhead Pharmaceuticals by 30.2% in the 4th quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock valued at $144,441,000 after buying an additional 504,883 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Arrowhead Pharmaceuticals by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock valued at $138,619,000 after acquiring an additional 6,264 shares during the period. Fred Alger Management LLC raised its holdings in Arrowhead Pharmaceuticals by 497.4% in the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after acquiring an additional 1,526,164 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Arrowhead Pharmaceuticals by 34.6% during the first 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 during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Wall Street Analysts Forecast Growth

ARWR has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 1st. Chardan Capital increased their target price on Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Stifel Nicolaus began coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price target for the company. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, JPMorgan Chase & Co. upped their price objective on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.83.

Insiders Place Their Bets

In other news, Director Hongbo Lu sold 2,970 shares of the company’s stock in a transaction on 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 approximately $3,998,682.56. This represents a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is owned by corporate insiders.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $85.60 on Monday. 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 stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of -39.81 and a beta of 1.26. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $15.01 and a twelve month high of $95.49. The company has a 50-day simple moving average of $77.94 and a two-hundred day simple moving average of $70.02.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The firm had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. During the same quarter in the prior year, the business posted $2.75 EPS. The business’s revenue was down 86.4% compared to the same quarter last year. Analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.08 EPS for the current year.

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.