Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. decreased its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 46.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,484 shares of the biotechnology company’s stock after selling 9,969 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Arrowhead Pharmaceuticals were worth $351,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ARWR. FMR LLC boosted its stake 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 worth $115,780,000 after buying an additional 1,584,425 shares during the period. Norges Bank acquired a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $60,235,000. State Street Corp increased its holdings in shares of Arrowhead Pharmaceuticals by 19.2% in the second quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company’s stock valued at $196,568,000 after purchasing an additional 900,791 shares during the period. Nomura Holdings Inc. raised its stake in shares of Arrowhead Pharmaceuticals by 4,031.7% during the fourth quarter. Nomura Holdings Inc. now owns 649,548 shares of the biotechnology company’s stock worth $26,302,000 after purchasing an additional 633,827 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 631.3% during the fourth quarter. Millennium Management LLC now owns 575,624 shares of the biotechnology company’s stock worth $23,347,000 after purchasing an additional 496,910 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Insider Activity

In related news, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the completion of the transaction, the chief financial officer now directly owns 400,600 shares in the company, valued at approximately $14,097,114. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 57,499 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $32.35, for a total value of $1,860,092.65. Following the transaction, the chief executive officer now directly owns 3,715,048 shares in the company, valued at approximately $120,181,802.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the sale, the chief financial officer now owns 400,600 shares of the company’s stock, valued at $14,097,114. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, February 8th. Citigroup raised their price objective on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Morgan Stanley boosted their target price on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Bank of America raised their price target on Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Finally, 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. One equities research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.45.

Arrowhead Pharmaceuticals Stock Down 1.2 %

Shares of ARWR stock opened at $22.33 on Monday. The stock has a market cap of $2.77 billion, a P/E ratio of -8.03 and a beta of 0.71. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $20.67 and a fifty-two week high of $42.48. The business has a fifty day simple moving average of $28.69 and a 200-day simple moving average of $28.94.

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

Arrowhead Pharmaceuticals Profile

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.