State of Michigan Retirement System Makes New $2.11 Million Investment in Arrowhead Pharmaceuticals, Inc. $ARWR

State of Michigan Retirement System bought a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 33,700 shares of the biotechnology company’s stock, valued at approximately $2,113,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ARWR. Tsfg LLC bought a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $25,000. iSAM Funds UK Ltd bought a new stake in Arrowhead Pharmaceuticals in the 3rd quarter valued at about $29,000. First Horizon Corp bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $32,000. WPG Advisers LLC lifted its position in Arrowhead Pharmaceuticals by 384.8% in the 4th quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 431 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Arrowhead Pharmaceuticals by 177.1% during the 4th quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 471 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Insider Activity

In related news, Director Hongbo Lu sold 2,970 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the transaction, the director owned 52,012 shares in the company, valued at $3,998,682.56. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James C. Hamilton sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the sale, the insider directly owned 226,958 shares in the company, valued at approximately $17,021,850. The trade was a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,065 shares of company stock worth $1,912,662 over the last three months. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

ARWR has been the subject of several recent analyst reports. Chardan Capital restated a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, June 30th. Royal Bank Of Canada lifted their price target on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Stifel Nicolaus began coverage on Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 1st. Finally, Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $74.30 on Friday. The firm has a 50-day moving average price of $77.62 and a 200 day moving average price of $69.48. The firm has a market capitalization of $10.47 billion, a PE ratio of -34.56 and a beta of 1.26. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $14.30 and a 52-week high of $87.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. The company had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. Arrowhead Pharmaceuticals’s revenue was down 86.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.75 EPS. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.07 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals 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.