State of New Jersey Common Pension Fund D Increases Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

State of New Jersey Common Pension Fund D raised its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 40.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,858 shares of the biotechnology company’s stock after buying an additional 32,551 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Arrowhead Pharmaceuticals were worth $2,122,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

ARWR has been the subject of several recent analyst reports. Citigroup lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Piper Sandler lowered their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. B. Riley reaffirmed a “buy” rating and issued a $38.00 price target (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. One research 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. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of “Hold” and an average target price of $41.44.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $19.90 on Friday. Arrowhead Pharmaceuticals, Inc. has a one year low of $17.05 and a one year high of $36.72. The stock has a 50-day moving average of $19.77 and a 200 day moving average of $20.89. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -3.85 and a beta of 0.95. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). On average, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $21.90, for a total transaction of $82,081.20. Following the completion of the sale, the director now directly owns 44,125 shares in the company, valued at $966,337.50. The trade was a 7.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Patrick O’brien sold 29,184 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $578,426.88. Following the sale, the chief operating officer now owns 535,201 shares of the company’s stock, valued at approximately $10,607,683.82. This represents a 5.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,432 shares of company stock worth $2,957,986 in the last three months. 4.30% of the stock is currently owned by company insiders.

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.