State Street Corp Acquires 516,569 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

State Street Corp raised its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,354,331 shares of the biotechnology company’s stock after buying an additional 516,569 shares during the period. State Street Corp owned 5.11% of Arrowhead Pharmaceuticals worth $123,083,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ARWR. Fifth Third Bancorp lifted its holdings in Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 354 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at approximately $52,000. Meeder Asset Management Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 4,629.2% in the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after buying an additional 3,333 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the second quarter worth $96,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after buying an additional 788 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $21.85 on Friday. The firm has a market cap of $2.72 billion, a P/E ratio of -4.35 and a beta of 0.91. The firm’s 50-day simple moving average is $20.98 and its 200-day simple moving average is $23.14. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $17.05 and a twelve month high of $39.83. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74.

Analysts Set New Price Targets

ARWR has been the subject of a number of research analyst reports. Sanford C. Bernstein cut their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Citigroup decreased their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.70.

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.