Arizona State Retirement System Increases Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Arizona State Retirement System grew its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 2.4% during the second quarter, Holdings Channel.com reports. The fund owned 34,685 shares of the biotechnology company’s stock after acquiring an additional 821 shares during the period. Arizona State Retirement System’s holdings in Arrowhead Pharmaceuticals were worth $901,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Fifth Third Bancorp raised its position in Arrowhead Pharmaceuticals by 42.5% in the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 354 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Arrowhead Pharmaceuticals by 12.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,714 shares of the biotechnology company’s stock valued at $279,000 after buying an additional 952 shares during the period. Securian Asset Management Inc. lifted its stake in Arrowhead Pharmaceuticals by 12.5% during the 1st quarter. Securian Asset Management Inc. now owns 10,100 shares of the biotechnology company’s stock worth $289,000 after acquiring an additional 1,121 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Arrowhead Pharmaceuticals by 3.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 34,663 shares of the biotechnology company’s stock valued at $901,000 after acquiring an additional 1,250 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at about $41,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARWR has been the topic of several research reports. The Goldman Sachs Group assumed coverage on shares of Arrowhead Pharmaceuticals in a research 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 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research note on Thursday, August 1st. Finally, B. Riley reiterated a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $44.25.

Arrowhead Pharmaceuticals Trading Up 6.2 %

Shares of ARWR stock opened at $21.49 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $20.14 and a 12 month high of $39.83. The company has a market cap of $2.67 billion, a P/E ratio of -5.06 and a beta of 0.96. The firm has a fifty day moving average price of $25.25 and a 200 day moving average price of $25.79.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 152.95%. The company’s quarterly revenue was down 100.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.96) earnings per share. On average, equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tracie Oliver sold 9,394 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the transaction, the insider now owns 127,107 shares in the company, valued at approximately $3,213,264.96. The sale was disclosed in a document filed with the SEC, which is available at this link. 4.50% of the stock is owned by corporate insiders.

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.