International Assets Investment Management LLC Takes Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

International Assets Investment Management LLC purchased a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARWR. Fifth Third Bancorp raised its stake in Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 354 shares during the period. Arizona State Retirement System lifted its holdings 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 worth $901,000 after buying an additional 821 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Arrowhead Pharmaceuticals by 3.7% during the second quarter. Commonwealth Equity Services LLC now owns 34,663 shares of the biotechnology company's stock worth $901,000 after acquiring an additional 1,250 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Arrowhead Pharmaceuticals by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 149,156 shares of the biotechnology company's stock valued at $3,877,000 after acquiring an additional 1,677 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Arrowhead Pharmaceuticals by 16.1% in the 1st quarter. State of Alaska Department of Revenue now owns 13,437 shares of the biotechnology company's stock valued at $384,000 after acquiring an additional 1,860 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARWR has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. HC Wainwright restated a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Friday, October 11th. B. Riley reaffirmed a "buy" rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a "sell" rating in a research note on Thursday, October 17th. One 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. According to MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $45.33.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock traded down $0.48 during trading on Thursday, hitting $19.23. The stock had a trading volume of 627,173 shares, compared to its average volume of 1,200,901. The stock has a market cap of $2.39 billion, a PE ratio of -4.15 and a beta of 0.95. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $17.05 and a 12 month high of $39.83. The firm's fifty day simple moving average is $20.85 and its 200-day simple moving average is $23.61.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.80). During the same quarter last year, the firm posted ($0.96) earnings per share. The business's revenue for the quarter was down 100.0% compared to the same quarter last year. Analysts expect that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share 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.