Van ECK Associates Corp Has $34,000 Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Van ECK Associates Corp lowered its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 42.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,728 shares of the biotechnology company’s stock after selling 1,250 shares during the quarter. Van ECK Associates Corp’s holdings in Arrowhead Pharmaceuticals were worth $34,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in shares of 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 buying an additional 354 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Arrowhead Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 788 shares during the last quarter. Arizona State Retirement System grew its position in shares of Arrowhead Pharmaceuticals by 2.4% in the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock valued at $901,000 after purchasing an additional 821 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Arrowhead Pharmaceuticals by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock worth $279,000 after purchasing an additional 980 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Arrowhead Pharmaceuticals by 3.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 34,663 shares of the biotechnology company’s stock valued at $901,000 after purchasing an additional 1,250 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ARWR. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Friday, October 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Piper Sandler reiterated an “overweight” rating and issued a $62.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, October 8th. Finally, B. Riley reissued a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $21.41 on Friday. The business’s fifty day moving average price is $20.19 and its two-hundred day moving average price is $23.45. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $39.83. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -4.58 and a beta of 0.93.

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.