Ontario Teachers Pension Plan Board Purchases Shares of 6,562 Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Ontario Teachers Pension Plan Board purchased a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the fourth quarter, Holdings Channel reports. The firm purchased 6,562 shares of the biotechnology company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARWR. Washington Trust Advisors Inc. purchased a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $25,000. Quest Partners LLC acquired a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at approximately $45,000. Friedenthal Financial purchased a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $51,000. Van ECK Associates Corp lifted its stake in shares of Arrowhead Pharmaceuticals by 22.9% during the fourth quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock worth $73,000 after buying an additional 447 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Arrowhead Pharmaceuticals by 130.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,270 shares of the biotechnology company’s stock valued at $142,000 after acquiring an additional 2,980 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Victoria Vakiener sold 1,799 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $41,934.69. Following the sale, the director now directly owns 30,205 shares of the company’s stock, valued at $704,078.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Hongbo Lu bought 1,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was acquired at an average price of $27.49 per share, with a total value of $27,490.00. Following the completion of the purchase, the director now directly owns 31,680 shares of the company’s stock, valued at $870,883.20. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Victoria Vakiener sold 1,799 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total transaction of $41,934.69. Following the transaction, the director now owns 30,205 shares of the company’s stock, valued at approximately $704,078.55. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $24.88 on Monday. The company has a market capitalization of $3.09 billion, a PE ratio of -5.85 and a beta of 0.78. The company’s fifty day moving average price is $25.12 and its 200 day moving average price is $28.64. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $20.67 and a 1 year high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. During the same quarter last year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. On average, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.05 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARWR. Citigroup raised their price objective on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Friday, May 10th. Morgan Stanley cut their price objective on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, May 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Arrowhead Pharmaceuticals Company 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.