Goldman Sachs Group Inc. Has $32.50 Million Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Goldman Sachs Group Inc. raised its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 136.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,061,967 shares of the biotechnology company’s stock after acquiring an additional 613,067 shares during the quarter. Goldman Sachs Group Inc. owned about 0.86% of Arrowhead Pharmaceuticals worth $32,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $25,000. Neo Ivy Capital Management bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $41,000. Quest Partners LLC bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $45,000. Friedenthal Financial bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $51,000. Finally, Van ECK Associates Corp boosted its stake in shares of Arrowhead Pharmaceuticals by 22.9% in the 4th quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock valued at $73,000 after purchasing an additional 447 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $25.50 on Friday. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $20.67 and a twelve month high of $39.83. The firm’s 50 day moving average price is $24.08 and its two-hundred day moving average price is $28.28. The firm has a market cap of $3.17 billion, a P/E ratio of -6.00 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results 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 net margin of 163.32% and a negative return on equity of 140.72%. During the same quarter in the prior year, the business posted $0.45 earnings per share. Arrowhead Pharmaceuticals’s revenue was down 100.0% on a year-over-year basis. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.05 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Victoria Vakiener sold 1,799 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Thursday, May 2nd. The shares were 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 in the company, valued at $704,078.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on ARWR shares. Morgan Stanley reduced their target price 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. The Goldman Sachs Group began coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, June 11th. Finally, Chardan Capital reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $47.89.

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.