Teachers Retirement System of The State of Kentucky Increases Stock Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Teachers Retirement System of The State of Kentucky raised its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 24.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,261 shares of the biotechnology company’s stock after purchasing an additional 8,474 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Arrowhead Pharmaceuticals were worth $2,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ARWR. Arrowstreet Capital Limited Partnership lifted its position in shares of Arrowhead Pharmaceuticals by 3,142.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after buying an additional 2,017,489 shares in the last quarter. Norges Bank purchased a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at approximately $113,159,000. Fred Alger Management LLC grew its holdings in Arrowhead Pharmaceuticals by 497.4% during 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 buying an additional 1,526,164 shares in the last quarter. Deerfield Management Company L.P. bought a new stake in Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $34,249,000. Finally, Vestal Point Capital LP bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $59,751,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Analyst Upgrades and Downgrades

ARWR has been the subject of a number of research reports. Leerink Partners increased their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, June 17th. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 1st. JPMorgan Chase & Co. assumed coverage on shares of Arrowhead Pharmaceuticals in a research note on Friday, May 1st. They set an “overweight” rating and a $88.00 price target on the stock. Finally, Royal Bank Of Canada increased their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $88.17.

Insider Buying and Selling

In other news, insider James C. Hamilton sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the insider directly owned 226,958 shares in the company, valued at approximately $17,021,850. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hongbo Lu sold 2,970 shares of the company’s stock in a transaction dated 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 transaction, the director owned 52,012 shares in the company, valued at approximately $3,998,682.56. The trade was a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 26,065 shares of company stock valued at $1,912,662. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Trading Down 3.0%

ARWR stock opened at $71.91 on Wednesday. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $14.30 and a twelve month high of $87.83. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of -33.45 and a beta of 1.26. The firm’s fifty day simple moving average is $77.86 and its two-hundred day simple moving average is $69.43.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.17. The business had revenue of $73.74 million during the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The firm’s quarterly revenue was down 86.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.75 earnings per share. As a group, analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current year.

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.