Intech Investment Management LLC Purchases Shares of 34,045 Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Intech Investment Management LLC acquired a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,045 shares of the biotechnology company’s stock, valued at approximately $659,000.

Several other hedge funds also recently modified their holdings of the stock. Fifth Third Bancorp grew its holdings in Arrowhead Pharmaceuticals by 42.5% during the second 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. Values First Advisors Inc. bought a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $52,000. Meeder Asset Management Inc. boosted its stake in shares of 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 acquiring an additional 3,333 shares during the period. nVerses Capital LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $96,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Arrowhead Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 788 shares during the period. Institutional investors own 62.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ARWR shares. Piper Sandler reduced their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. Sanford C. Bernstein dropped their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.70.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $26.03 on Friday. The firm has a market capitalization of $3.24 billion, a P/E ratio of -5.19 and a beta of 0.93. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $17.05 and a 12 month high of $39.83. The firm has a 50 day moving average of $20.16 and a 200-day moving average of $23.23. The company has a current ratio of 6.74, a quick ratio of 4.65 and a debt-to-equity ratio of 2.06.

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.