Zurcher Kantonalbank Zurich Cantonalbank Buys 1,523 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,262 shares of the biotechnology company’s stock after acquiring an additional 1,523 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arrowhead Pharmaceuticals were worth $586,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ARWR. Squarepoint Ops LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at approximately $9,976,000. Avoro Capital Advisors LLC grew 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 valued at $231,022,000 after acquiring an additional 333,333 shares during the period. Assenagon Asset Management S.A. grew its stake 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 acquiring an additional 204,933 shares during the period. Millennium Management LLC grew its stake in shares of Arrowhead Pharmaceuticals by 61.9% during 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 grew its stake in shares of Arrowhead Pharmaceuticals by 61.3% during the 3rd quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock valued at $7,770,000 after acquiring an additional 152,476 shares during the period. 62.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARWR has been the subject of a number of recent research reports. 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, November 27th. 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 report on Friday, November 29th. Chardan Capital reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, November 27th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Wednesday, November 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.70.

Arrowhead Pharmaceuticals Stock Up 5.9 %

Shares of ARWR opened at $23.61 on Friday. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -4.70 and a beta of 0.91. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $17.05 and a 1 year high of $39.83. The business’s 50 day simple moving average is $20.61 and its 200-day simple moving average is $23.21. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74.

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.