Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Stake Raised by HighTower Advisors LLC

HighTower Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 11.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 123,477 shares of the biotechnology company’s stock after purchasing an additional 12,706 shares during the period. HighTower Advisors LLC’s holdings in Arrowhead Pharmaceuticals were worth $2,401,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new stake in Arrowhead Pharmaceuticals during the second quarter valued at approximately $9,976,000. Avoro Capital Advisors LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after buying an additional 333,333 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Arrowhead Pharmaceuticals by 232.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock valued at $5,677,000 after acquiring an additional 204,933 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 61.9% during the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after acquiring an additional 202,280 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of Arrowhead Pharmaceuticals by 61.3% in the 3rd quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock worth $7,770,000 after acquiring an additional 152,476 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Down 1.3 %

Arrowhead Pharmaceuticals stock opened at $21.85 on Friday. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $17.05 and a twelve month high of $39.83. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The firm has a market cap of $2.72 billion, a PE ratio of -4.35 and a beta of 0.91. The firm’s 50 day moving average price is $20.98 and its two-hundred day moving average price is $23.15.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ARWR shares. Citigroup reduced their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Piper Sandler reduced their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Wednesday, November 27th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Finally, HC Wainwright raised their price objective on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $42.70.

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.