Insider Buying: Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Acquires $27,500.00 in Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRGet Free Report) Director Hongbo Lu purchased 1,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Wednesday, March 20th. The stock was acquired at an average cost of $27.50 per share, with a total value of $27,500.00. Following the transaction, the director now owns 33,680 shares in the company, valued at approximately $926,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hongbo Lu also recently made the following trade(s):

  • On Monday, March 18th, Hongbo Lu purchased 1,000 shares of Arrowhead Pharmaceuticals stock. The stock was acquired at an average cost of $27.49 per share, with a total value of $27,490.00.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $27.21 on Friday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $20.67 and a 52-week high of $42.48. The stock’s 50-day simple moving average is $31.61 and its 200 day simple moving average is $29.18.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.46). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 90.77%. The firm had revenue of $3.55 million during the quarter, compared to the consensus estimate of $35.60 million. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. The company’s revenue was down 94.3% on a year-over-year basis. On average, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.7 earnings per share for the current year.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Arrowhead Pharmaceuticals by 0.8% in the 2nd quarter. BlackRock Inc. now owns 12,811,158 shares of the biotechnology company’s stock valued at $456,846,000 after acquiring an additional 100,357 shares during the period. Vanguard Group Inc. increased its position in shares of Arrowhead Pharmaceuticals by 0.8% during the third quarter. Vanguard Group Inc. now owns 10,145,990 shares of the biotechnology company’s stock valued at $335,325,000 after buying an additional 76,653 shares during the period. State Street Corp increased its position in shares of Arrowhead Pharmaceuticals by 19.2% during the second quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company’s stock valued at $196,568,000 after buying an additional 900,791 shares during the period. FMR LLC increased its position in shares of Arrowhead Pharmaceuticals by 58.2% during the third quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock valued at $115,780,000 after buying an additional 1,584,425 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Arrowhead Pharmaceuticals by 3.2% during the first quarter. JPMorgan Chase & Co. now owns 2,909,965 shares of the biotechnology company’s stock valued at $73,913,000 after buying an additional 89,143 shares during the period. 65.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ARWR shares. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, February 8th. Bank of America lifted their price objective on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Morgan Stanley lifted their price objective on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 7th. Finally, Citigroup lifted their price objective on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy 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 $53.45.

View Our Latest Research Report on Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals Company Profile

(Get Free Report)

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.

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