Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Purchased by abrdn plc

abrdn plc lifted its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 61.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 401,146 shares of the biotechnology company's stock after purchasing an additional 152,476 shares during the period. abrdn plc owned 0.32% of Arrowhead Pharmaceuticals worth $7,770,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ARWR. State of Michigan Retirement System grew its holdings in shares of Arrowhead Pharmaceuticals by 18.7% in the first quarter. State of Michigan Retirement System now owns 30,470 shares of the biotechnology company's stock valued at $871,000 after purchasing an additional 4,800 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Arrowhead Pharmaceuticals by 16.1% during the 1st quarter. State of Alaska Department of Revenue now owns 13,437 shares of the biotechnology company's stock worth $384,000 after buying an additional 1,860 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Arrowhead Pharmaceuticals by 67.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 327,782 shares of the biotechnology company's stock valued at $9,375,000 after buying an additional 131,797 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Arrowhead Pharmaceuticals by 11.5% in the first quarter. Mutual of America Capital Management LLC now owns 73,826 shares of the biotechnology company's stock valued at $2,111,000 after acquiring an additional 7,597 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Arrowhead Pharmaceuticals in the first quarter worth approximately $2,068,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARWR has been the topic of a number of research analyst reports. HC Wainwright restated a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Friday, October 11th. Chardan Capital restated a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Cantor Fitzgerald restated an "overweight" rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Piper Sandler restated an "overweight" rating and issued a $62.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a "sell" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $45.33.

Arrowhead Pharmaceuticals Stock Up 1.4 %

NASDAQ ARWR traded up $0.26 during trading on Friday, hitting $19.49. The stock had a trading volume of 1,053,865 shares, compared to its average volume of 956,671. The company has a market capitalization of $2.42 billion, a PE ratio of -4.17 and a beta of 0.93. The firm has a 50 day moving average price of $20.64 and a 200 day moving average price of $23.55. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $17.05 and a twelve month high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.80). During the same period last year, the business earned ($0.96) earnings per share. The firm's quarterly revenue was down 100.0% on a year-over-year basis. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current year.

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.