The Manufacturers Life Insurance Company Acquires Shares of 111,955 Arrowhead Pharmaceuticals, Inc. $ARWR

The Manufacturers Life Insurance Company acquired a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 111,955 shares of the biotechnology company’s stock, valued at approximately $9,125,000. The Manufacturers Life Insurance Company owned 0.08% of Arrowhead Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $1,208,838,000. Geode Capital Management LLC boosted its position in Arrowhead Pharmaceuticals by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after purchasing an additional 133,921 shares in the last quarter. Baker BROS. Advisors LP boosted its position in Arrowhead Pharmaceuticals by 30.2% during the fourth quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock worth $144,441,000 after purchasing an additional 504,883 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Arrowhead Pharmaceuticals by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock valued at $138,619,000 after purchasing an additional 6,264 shares during the period. Finally, Fred Alger Management LLC grew its holdings in Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after purchasing an additional 1,526,164 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Performance

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

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its 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 company had revenue of $75.25 million during the quarter, compared to analysts’ expectations of $44.17 million. During the same quarter in the previous year, the company earned ($1.26) earnings per share. The firm’s quarterly revenue was up 171.0% compared to the same quarter last year. On average, research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ARWR shares. HC Wainwright upped their target price on Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Sanford C. Bernstein lifted their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Stifel Nicolaus started coverage on shares of Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price target for the company. B. Riley Financial upped their price objective on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $97.33.

Insider Transactions at Arrowhead Pharmaceuticals

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

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.