International Assets Investment Management LLC Acquires New Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

International Assets Investment Management LLC acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 74,439 shares of the biotechnology company’s stock, valued at approximately $14,420,000. International Assets Investment Management LLC owned 0.06% of Arrowhead Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ARWR. Fifth Third Bancorp increased its holdings in Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 354 shares during the period. Headlands Technologies LLC increased its holdings in Arrowhead Pharmaceuticals by 7,696.8% during the 1st quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 2,386 shares during the period. Meeder Asset Management Inc. increased its holdings in Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 3,333 shares during the period. nVerses Capital LLC purchased a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth about $96,000. Finally, Quarry LP increased its holdings in Arrowhead Pharmaceuticals by 54.5% during the 2nd quarter. Quarry LP now owns 8,500 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Analyst Upgrades and Downgrades

ARWR has been the topic of several research analyst reports. Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Piper Sandler reissued an “overweight” rating and set a $62.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. One research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.33.

Arrowhead Pharmaceuticals Stock Down 1.4 %

NASDAQ:ARWR opened at $19.71 on Thursday. The stock’s 50 day moving average price is $20.85 and its 200 day moving average price is $23.61. The company has a market capitalization of $2.45 billion, a PE ratio of -4.64 and a beta of 0.95. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $17.05 and a 52-week high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.80). During the same quarter in the prior year, the firm posted ($0.96) earnings per share. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current fiscal year.

About Arrowhead Pharmaceuticals

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.