Hennion & Walsh Asset Management Inc. Acquires 4,523 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Hennion & Walsh Asset Management Inc. lifted its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,734 shares of the biotechnology company’s stock after buying an additional 4,523 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Arrowhead Pharmaceuticals were worth $1,308,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Global Assets Advisory LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 1st quarter worth about $1,151,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Arrowhead Pharmaceuticals by 63.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 95,000 shares of the biotechnology company’s stock worth $2,907,000 after buying an additional 37,000 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Arrowhead Pharmaceuticals by 136.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after buying an additional 613,067 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $41,000. Finally, Eventide Asset Management LLC bought a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at about $9,587,000. 62.61% of the stock is currently owned by institutional investors.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, Director Victoria Vakiener sold 1,799 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total value of $41,934.69. Following the completion of the sale, the director now owns 30,205 shares of the company’s stock, valued at approximately $704,078.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $25.99 on Monday. The company has a 50 day moving average price of $24.42 and a 200-day moving average price of $28.37. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $20.67 and a fifty-two week high of $39.83. The stock has a market capitalization of $3.23 billion, a PE ratio of -6.12 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was down 100.0% on a year-over-year basis. Equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ARWR. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Thursday, June 20th. Morgan Stanley cut their price target on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, May 13th. The Goldman Sachs Group began coverage on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price target on the stock. Chardan Capital reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, June 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.89.

About Arrowhead Pharmaceuticals

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.