Fisher Asset Management LLC Grows Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Fisher Asset Management LLC lifted its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 941.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,260 shares of the biotechnology company's stock after acquiring an additional 110,516 shares during the quarter. Fisher Asset Management LLC owned 0.10% of Arrowhead Pharmaceuticals worth $2,368,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Squarepoint Ops LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter worth approximately $9,976,000. Avoro Capital Advisors LLC raised its stake in shares of Arrowhead Pharmaceuticals by 3.9% during the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company's stock worth $231,022,000 after buying an additional 333,333 shares during the period. 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 buying an additional 204,933 shares in the last quarter. Millennium Management LLC grew its stake in Arrowhead Pharmaceuticals by 61.9% in the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company's stock valued at $13,755,000 after acquiring an additional 202,280 shares during the period. Finally, abrdn plc increased its holdings in 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 in the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARWR has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Citigroup cut their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday. Chardan Capital reissued a "buy" rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday. Finally, Sanford C. Bernstein lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a "market perform" rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.70.

Arrowhead Pharmaceuticals Trading Down 0.5 %

Shares of NASDAQ ARWR traded down $0.12 during trading on Friday, hitting $26.03. 1,899,366 shares of the company were exchanged, compared to its average volume of 1,254,600. The company has a fifty day moving average price of $20.16 and a 200-day moving average price of $23.23. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.65 and a current ratio of 6.74. The firm has a market capitalization of $3.24 billion, a PE 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.

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.