Bank of Montreal Can Acquires 30,866 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Bank of Montreal Can grew its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 240.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,699 shares of the biotechnology company’s stock after acquiring an additional 30,866 shares during the period. Bank of Montreal Can’s holdings in Arrowhead Pharmaceuticals were worth $1,202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Arrowhead Pharmaceuticals by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after purchasing an additional 1,731,974 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 136.6% in the fourth 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. Eventide Asset Management LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $9,587,000. Avoro Capital Advisors LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 3.9% during the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after buying an additional 333,333 shares during the period. Finally, American International Group Inc. grew its stake in Arrowhead Pharmaceuticals by 13.4% in the 1st quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock valued at $6,298,000 after buying an additional 26,009 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ARWR. B. Riley restated a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. HC Wainwright reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 3rd. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $43.25.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $18.82 on Friday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $18.15 and a 52-week high of $39.83. The firm has a market capitalization of $2.34 billion, a PE ratio of -4.43 and a beta of 0.95. The company’s fifty day moving average price is $22.80 and its two-hundred day moving average price is $24.56.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. The firm’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.96) earnings per share. Analysts predict that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals Profile

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.