Louisiana State Employees Retirement System Sells 600 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Louisiana State Employees Retirement System trimmed its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,500 shares of the biotechnology company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Arrowhead Pharmaceuticals were worth $668,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Avoro Capital Advisors LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 657.1% during the 1st quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock worth $244,689,000 after acquiring an additional 7,425,555 shares during the period. Vanguard Group Inc. boosted its stake in shares of Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after acquiring an additional 1,731,974 shares during the period. Squarepoint Ops LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $9,976,000. Assenagon Asset Management S.A. boosted its stake 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 worth $5,677,000 after acquiring an additional 204,933 shares during the period. Finally, Natixis bought a new position in shares of Arrowhead Pharmaceuticals during the 1st quarter worth approximately $5,834,000. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $20.06 on Tuesday. The stock has a market capitalization of $2.49 billion, a PE ratio of -4.33 and a beta of 0.93. The business has a fifty day moving average price of $20.64 and a two-hundred day moving average price of $23.55. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data 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). Arrowhead Pharmaceuticals’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.96) earnings per share. On average, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ARWR. HC Wainwright reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Friday, October 11th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Piper Sandler reissued an “overweight” rating and set a $62.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

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.