Oak Ridge Investments LLC lowered its stake in shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) by 0.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 332,868 shares of the biotechnology company’s stock after selling 2,115 shares during the period. Oak Ridge Investments LLC’s holdings in Arrowhead Pharmaceuticals were worth $6,108,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC purchased a new stake in Arrowhead Pharmaceuticals during the fourth quarter valued at about $52,000. First Quadrant L P CA lifted its holdings in Arrowhead Pharmaceuticals by 831.4% during the first quarter. First Quadrant L P CA now owns 3,353 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 2,993 shares during the last quarter. Advisor Group Inc. lifted its holdings in Arrowhead Pharmaceuticals by 73.4% during the fourth quarter. Advisor Group Inc. now owns 8,670 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 3,670 shares during the last quarter. Beaumont Financial Partners LLC purchased a new stake in Arrowhead Pharmaceuticals during the fourth quarter valued at about $124,000. Finally, LPL Financial LLC purchased a new stake in Arrowhead Pharmaceuticals during the fourth quarter valued at about $130,000. Institutional investors own 63.30% of the company’s stock.
In other news, CFO Kenneth Allen Myszkowski sold 27,071 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $22.00, for a total value of $595,562.00. Following the sale, the chief financial officer now directly owns 278,536 shares of the company’s stock, valued at $6,127,792. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Bruce D. Given sold 42,500 shares of the stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $18.98, for a total transaction of $806,650.00. Following the completion of the sale, the chief operating officer now directly owns 687,106 shares in the company, valued at $13,041,271.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 227,071 shares of company stock worth $4,468,037. Insiders own 4.80% of the company’s stock.
ARWR has been the topic of several recent research reports. Chardan Capital reaffirmed a “buy” rating and set a $24.50 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, February 11th. BidaskClub raised shares of Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Cantor Fitzgerald set a $24.00 price objective on shares of Arrowhead Pharmaceuticals and gave the company a “buy” rating in a report on Friday, April 12th. Piper Jaffray Companies upped their price objective on shares of Arrowhead Pharmaceuticals from $25.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, B. Riley upped their price objective on shares of Arrowhead Pharmaceuticals from $19.00 to $26.00 and gave the company a “buy” rating in a report on Monday, May 13th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.86.
NASDAQ ARWR traded up $2.07 during trading on Friday, hitting $24.04. 5,418,973 shares of the company’s stock traded hands, compared to its average volume of 1,894,594. The company has a market cap of $2.28 billion, a PE ratio of -36.98 and a beta of 2.15. Arrowhead Pharmaceuticals Inc has a 12-month low of $9.67 and a 12-month high of $24.30.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Arrowhead Pharmaceuticals had a net margin of 10.09% and a return on equity of 6.72%. The business had revenue of $48.15 million for the quarter, compared to the consensus estimate of $45.78 million. As a group, equities research analysts expect that Arrowhead Pharmaceuticals Inc will post 0.68 EPS for the current fiscal year.
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Arrowhead Pharmaceuticals Profile
Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.
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