Oak Ridge Investments LLC Cuts Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Oak Ridge Investments LLC lessened its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 4.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 35,137 shares of the biotechnology company’s stock after selling 1,463 shares during the quarter. Oak Ridge Investments LLC’s holdings in Arrowhead Pharmaceuticals were worth $681,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 657.1% during the first quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock worth $244,689,000 after acquiring an additional 7,425,555 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 16.2% during the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after acquiring an additional 1,731,974 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth about $9,976,000. Assenagon Asset Management S.A. grew its stake in shares of Arrowhead Pharmaceuticals by 232.5% during the third quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after acquiring an additional 204,933 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Arrowhead Pharmaceuticals during the first quarter worth about $5,834,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 1.4 %

Shares of NASDAQ:ARWR opened at $19.49 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $17.05 and a 12-month high of $39.83. The company has a market capitalization of $2.42 billion, a PE ratio of -4.17 and a beta of 0.95. The business has a 50 day moving average of $20.64 and a two-hundred day moving average of $23.55.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). During the same quarter in the prior year, the business earned ($0.96) earnings per share. The firm’s revenue was down 100.0% compared to the same quarter last year. Equities research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ARWR. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Friday, October 11th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $62.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.33.

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.