New York State Common Retirement Fund Decreases Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

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New York State Common Retirement Fund decreased its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRGet Rating) by 0.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 348,422 shares of the biotechnology company’s stock after selling 873 shares during the period. New York State Common Retirement Fund owned about 0.33% of Arrowhead Pharmaceuticals worth $16,024,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc grew its stake in Arrowhead Pharmaceuticals by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 4,417 shares of the biotechnology company’s stock valued at $293,000 after acquiring an additional 226 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Arrowhead Pharmaceuticals by 1.3% during the 1st quarter. State of Michigan Retirement System now owns 26,770 shares of the biotechnology company’s stock worth $1,231,000 after purchasing an additional 342 shares during the last quarter. Sageworth Trust Co of South Dakota purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $25,000. Louisiana State Employees Retirement System grew its holdings in Arrowhead Pharmaceuticals by 3.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 27,600 shares of the biotechnology company’s stock valued at $1,263,000 after buying an additional 800 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 760.4% in the fourth quarter. First Horizon Advisors Inc. now owns 912 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 806 shares during the last quarter. Hedge funds and other institutional investors own 64.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of Arrowhead Pharmaceuticals from $89.00 to $72.00 in a research note on Wednesday, May 11th. The Goldman Sachs Group dropped their target price on Arrowhead Pharmaceuticals from $90.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. Robert W. Baird upgraded Arrowhead Pharmaceuticals from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $71.00 to $60.00 in a research report on Wednesday, May 11th. HC Wainwright reaffirmed a “buy” rating and set a $110.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 14th. Finally, StockNews.com upgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.00.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $45.96 on Friday. Arrowhead Pharmaceuticals, Inc. has a one year low of $26.81 and a one year high of $84.83. The stock’s 50 day moving average price is $37.32 and its 200 day moving average price is $41.91. The firm has a market capitalization of $4.86 billion, a PE ratio of -31.05 and a beta of 1.37.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Rating) last released its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.17). Arrowhead Pharmaceuticals had a negative net margin of 61.58% and a negative return on equity of 37.43%. The firm had revenue of $32.41 million for the quarter, compared to analyst estimates of $52.61 million. During the same period in the previous year, the business posted ($0.29) earnings per share. Arrowhead Pharmaceuticals’s revenue for the quarter was down 29.4% on a year-over-year basis. On average, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -1.03 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals Profile

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Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company’s products in pipeline includes ARO-AAT, a RNA interference (RNAi) therapeutic candidate that is in Phase II clinical trial for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3, which is in phase 2b and one phase 3 clinical trial to treat hypertriglyceridemia; ARO-ANG3 that is in Phase 2b clinical trial to reduce production of angiopoietin-like protein 3; ARO-HSD, which is in Phase 1/2a clinical trial to treat liver diseases; ARO-ENaC, which is in a Phase 1/2a clinical trial to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; ARO-C3 for the treatment of complement-mediated disease that is in Phase 1/2a clinical trial; ARO-Lung2 for the treatment of chronic obstructive pulmonary disorder; ARO-DUX4 for the treatment of facioscapulohumeral muscular dystrophy; ARO-XDH to treat uncontrolled gout; ARO-COV for the treatment of COVID-19 and other pulmonary-borne pathogens; and ARO-HIF2, which is in phase 1b clinical trial to treat clear cell renal cell carcinoma.

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