Erste Asset Management GmbH Takes Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Erste Asset Management GmbH bought a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 47,000 shares of the biotechnology company’s stock, valued at approximately $924,000.

Several other institutional investors have also bought and sold shares of the stock. PDT Partners LLC bought a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at $315,000. Verition Fund Management LLC lifted its holdings in Arrowhead Pharmaceuticals by 80.7% during the 3rd quarter. Verition Fund Management LLC now owns 76,548 shares of the biotechnology company’s stock valued at $1,483,000 after purchasing an additional 34,197 shares during the last quarter. Captrust Financial Advisors acquired a new position in Arrowhead Pharmaceuticals in the third quarter valued at about $291,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Arrowhead Pharmaceuticals by 5.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,262 shares of the biotechnology company’s stock worth $586,000 after buying an additional 1,523 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Arrowhead Pharmaceuticals by 40.1% in the third quarter. BNP Paribas Financial Markets now owns 55,188 shares of the biotechnology company’s stock valued at $1,069,000 after acquiring an additional 15,784 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Trading Down 1.0 %

ARWR opened at $26.07 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $39.83. The company has a market cap of $3.24 billion, a price-to-earnings ratio of -5.19 and a beta of 0.91. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The firm has a 50 day simple moving average of $20.28 and a 200 day simple moving average of $23.23.

Analyst Ratings Changes

A number of equities research analysts recently commented on ARWR shares. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Chardan Capital restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 27th. Sanford C. Bernstein decreased their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. HC Wainwright raised their price objective on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Piper Sandler reduced their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. 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.