State of New Jersey Common Pension Fund D Has $2.12 Million Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

State of New Jersey Common Pension Fund D lifted its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 40.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 112,858 shares of the biotechnology company's stock after purchasing an additional 32,551 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.09% of Arrowhead Pharmaceuticals worth $2,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $38,000. Values First Advisors Inc. bought a new position in Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $52,000. Van ECK Associates Corp raised its position in shares of Arrowhead Pharmaceuticals by 72.3% during the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company's stock valued at $56,000 after acquiring an additional 1,250 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Arrowhead Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company's stock valued at $88,000 after acquiring an additional 788 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Arrowhead Pharmaceuticals by 45.9% in the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company's stock valued at $98,000 after purchasing an additional 1,644 shares in the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on ARWR shares. Sanford C. Bernstein reduced their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a "market perform" rating for the company in a report on Friday, November 29th. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. B. Riley reissued a "buy" rating and set a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Chardan Capital reissued a "buy" rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Citigroup lowered their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $41.44.

Insiders Place Their Bets

In related news, CEO Christopher Richard Anzalone sold 26,712 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.24, for a total value of $567,362.88. Following the completion of the transaction, the chief executive officer now owns 3,688,335 shares in the company, valued at $78,340,235.40. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Allen Myszkowski sold 27,167 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.83, for a total value of $538,721.61. Following the sale, the chief financial officer now directly owns 473,433 shares of the company's stock, valued at approximately $9,388,176.39. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,432 shares of company stock valued at $2,957,986. Corporate insiders own 4.30% of the company's stock.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock traded up $0.07 during mid-day trading on Wednesday, reaching $19.60. 467,635 shares of the stock traded hands, compared to its average volume of 2,064,406. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $36.72. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The business has a 50-day moving average of $19.65 and a 200 day moving average of $20.78. The stock has a market capitalization of $2.47 billion, a PE ratio of -3.79 and a beta of 0.95.

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