Louisiana State Employees Retirement System Has $668,000 Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Louisiana State Employees Retirement System cut its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 1.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,500 shares of the biotechnology company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Arrowhead Pharmaceuticals were worth $668,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Values First Advisors Inc. bought a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at $52,000. Assenagon Asset Management S.A. lifted its stake in shares of Arrowhead Pharmaceuticals by 232.5% in the third 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. International Assets Investment Management LLC bought a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at about $14,420,000. Buffington Mohr McNeal bought a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at about $581,000. Finally, Handelsbanken Fonder AB lifted its position in shares of Arrowhead Pharmaceuticals by 17.0% during the third quarter. Handelsbanken Fonder AB now owns 35,700 shares of the biotechnology company’s stock valued at $692,000 after purchasing an additional 5,200 shares in the last quarter. 62.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ARWR shares. HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Friday, October 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Piper Sandler reiterated an “overweight” rating and set a $62.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. Chardan Capital reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.33.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $20.06 on Tuesday. The firm’s 50-day moving average price is $20.64 and its 200-day moving average price is $23.55. The company has a market capitalization of $2.49 billion, a PE ratio of -4.33 and a beta of 0.93. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $17.05 and a 1-year high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted 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). The business’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.96) EPS. Equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current fiscal 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.