237,216 Shares in Arrowhead Pharmaceuticals, Inc. $ARWR Bought by Legal & General Group Plc

Legal & General Group Plc acquired a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 237,216 shares of the biotechnology company’s stock, valued at approximately $19,335,000. Legal & General Group Plc owned 0.17% of Arrowhead Pharmaceuticals as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ARWR. Tsfg LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $25,000. Optiver Holding B.V. lifted its position in shares of Arrowhead Pharmaceuticals by 83.8% during the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 186 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Arrowhead Pharmaceuticals by 285.1% in the second quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 248 shares during the period. Carolina Wealth Advisors LLC grew its position in Arrowhead Pharmaceuticals by 80.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 154 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in Arrowhead Pharmaceuticals during the third quarter worth $29,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ARWR shares. Sanford C. Bernstein increased their target price on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Leerink Partners upped their price objective on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 17th. Stifel Nicolaus started coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They issued a “buy” rating and a $98.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 17th. Finally, Royal Bank Of Canada boosted their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.33.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $84.91 on Friday. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of -37.74 and a beta of 1.27. Arrowhead Pharmaceuticals, Inc. has a one year low of $21.61 and a one year high of $95.49. The stock’s 50-day moving average is $83.64 and its 200-day moving average is $73.54. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The business had revenue of $75.25 million during the quarter, compared to analyst estimates of $44.17 million. During the same quarter in the previous year, the firm posted ($1.26) earnings per share. The firm’s quarterly revenue was up 171.0% on a year-over-year basis. Equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.51 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, Director Michael S. Perry sold 11,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total value of $1,012,680.00. Following the transaction, the director owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. This represents a 9.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Adeoye Y. Olukotun sold 2,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the sale, the director directly owned 31,600 shares of the company’s stock, valued at $2,747,936. This represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 3.60% of the stock is currently owned by corporate insiders.

About Arrowhead Pharmaceuticals

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.