Lazard Asset Management LLC Acquires 1,877 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Lazard Asset Management LLC lifted its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRGet Rating) by 97.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,804 shares of the biotechnology company’s stock after purchasing an additional 1,877 shares during the period. Lazard Asset Management LLC’s holdings in Arrowhead Pharmaceuticals were worth $133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Shell Asset Management Co. increased its stake in shares of Arrowhead Pharmaceuticals by 50.6% in the second quarter. Shell Asset Management Co. now owns 7,302 shares of the biotechnology company’s stock worth $257,000 after purchasing an additional 2,454 shares in the last quarter. Duality Advisers LP increased its stake in shares of Arrowhead Pharmaceuticals by 241.3% in the second quarter. Duality Advisers LP now owns 41,815 shares of the biotechnology company’s stock worth $1,472,000 after purchasing an additional 29,564 shares in the last quarter. Texas Permanent School Fund increased its stake in shares of Arrowhead Pharmaceuticals by 2.1% in the second quarter. Texas Permanent School Fund now owns 76,349 shares of the biotechnology company’s stock worth $2,688,000 after purchasing an additional 1,583 shares in the last quarter. Banque Pictet & Cie SA increased its stake in shares of Arrowhead Pharmaceuticals by 10.3% in the second quarter. Banque Pictet & Cie SA now owns 185,274 shares of the biotechnology company’s stock worth $6,524,000 after purchasing an additional 17,304 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Arrowhead Pharmaceuticals by 30.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 86,793 shares of the biotechnology company’s stock worth $3,056,000 after purchasing an additional 20,319 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Arrowhead Pharmaceuticals from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, August 8th. StockNews.com assumed coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler cut their target price on shares of Arrowhead Pharmaceuticals from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, November 9th. SVB Leerink raised their target price on shares of Arrowhead Pharmaceuticals from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, November 10th. Finally, Chardan Capital raised their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $82.00 in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $29.84 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $26.81 and a 52 week high of $74.77. The stock has a market capitalization of $3.16 billion, a P/E ratio of -20.16 and a beta of 1.42. The firm has a fifty day simple moving average of $33.09 and a two-hundred day simple moving average of $36.34. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.16.

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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Institutional Ownership by Quarter for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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