Raymond James Financial Inc. Makes New $651,000 Investment in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Raymond James Financial Inc. bought a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 4th quarter, HoldingsChannel reports. The fund bought 34,633 shares of the biotechnology company’s stock, valued at approximately $651,000.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth about $38,000. Van ECK Associates Corp grew its stake in shares of Arrowhead Pharmaceuticals by 72.3% during the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 1,250 shares during the last quarter. KBC Group NV grew its stake in shares of Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after buying an additional 1,644 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth approximately $205,000. Finally, Empowered Funds LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth approximately $268,000. Institutional investors own 62.61% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Christopher Richard Anzalone sold 51,425 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $15.07, for a total transaction of $774,974.75. Following the transaction, the chief executive officer now directly owns 4,062,377 shares of the company’s stock, valued at approximately $61,220,021.39. This represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 185,717 shares of company stock worth $3,064,441. 4.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. B. Riley reiterated a “buy” rating and set a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.44.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $10.68 on Monday. The firm has a 50 day moving average of $17.31 and a 200 day moving average of $19.30. 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 company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -2.07 and a beta of 0.99. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $10.66 and a 52 week high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly 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, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal 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.