Mirae Asset Global Investments Co. Ltd. Has $88,000 Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 21.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,496 shares of the biotechnology company’s stock after buying an additional 788 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Arrowhead Pharmaceuticals were worth $88,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Fifth Third Bancorp raised its holdings in Arrowhead Pharmaceuticals by 42.5% during the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 354 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Arrowhead Pharmaceuticals by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock valued at $901,000 after buying an additional 821 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Arrowhead Pharmaceuticals by 3.7% in the second quarter. Commonwealth Equity Services LLC now owns 34,663 shares of the biotechnology company’s stock valued at $901,000 after buying an additional 1,250 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Arrowhead Pharmaceuticals by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 149,156 shares of the biotechnology company’s stock worth $3,877,000 after buying an additional 1,677 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Arrowhead Pharmaceuticals by 16.1% during the first quarter. State of Alaska Department of Revenue now owns 13,437 shares of the biotechnology company’s stock worth $384,000 after acquiring an additional 1,860 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Friday, October 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Finally, B. Riley reaffirmed a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.33.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $20.06 on Tuesday. The firm has a 50-day moving average of $20.64 and a 200-day moving average of $23.55. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $17.05 and a 52-week high of $39.83. The stock has a market cap of $2.49 billion, a PE ratio of -4.30 and a beta of 0.93.

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

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.