Raymond James Financial Inc. Makes New Investment in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Raymond James Financial Inc. bought a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 34,633 shares of the biotechnology company's stock, valued at approximately $651,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC raised its holdings in Arrowhead Pharmaceuticals by 11.5% in the third quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company's stock valued at $2,401,000 after acquiring an additional 12,706 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company's stock valued at $57,426,000 after purchasing an additional 26,171 shares in the last quarter. State Street Corp lifted its position in shares of Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company's stock worth $123,083,000 after purchasing an additional 516,569 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Arrowhead Pharmaceuticals by 9.4% during the third quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company's stock worth $373,000 after purchasing an additional 1,658 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Arrowhead Pharmaceuticals by 11.6% in the fourth quarter. Pacer Advisors Inc. now owns 27,918 shares of the biotechnology company's stock worth $525,000 after purchasing an additional 2,907 shares in the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 40,322 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $10.07, for a total transaction of $406,042.54. Following the transaction, the chief executive officer now owns 4,022,055 shares in the company, valued at $40,502,093.85. This trade represents a 0.99 % 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. Insiders have sold a total of 276,839 shares of company stock worth $4,054,176 over the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ARWR has been the topic of a number of research analyst reports. StockNews.com raised Arrowhead Pharmaceuticals to a "sell" rating in a report on Friday, December 20th. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Chardan Capital restated a "buy" rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, B. Riley reaffirmed a "buy" rating and issued a $38.00 price target (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of "Hold" and a consensus price target of $41.44.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR traded up $0.68 on Friday, hitting $11.79. The stock had a trading volume of 1,755,918 shares, compared to its average volume of 1,407,189. The company's 50-day moving average is $16.07 and its two-hundred day moving average is $18.86. Arrowhead Pharmaceuticals, Inc. has a one year low of $9.57 and a one year high of $30.41. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -2.28 and a beta of 0.99. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.97). On average, analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

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.