Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Short Interest Up 6.6% in November

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 10,070,000 shares, an increase of 6.6% from the November 15th total of 9,450,000 shares. Based on an average trading volume of 1,390,000 shares, the short-interest ratio is presently 7.2 days.

Arrowhead Pharmaceuticals Stock Down 1.3 %

Shares of NASDAQ ARWR opened at $21.85 on Monday. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $39.83. The stock’s fifty day simple moving average is $20.98 and its two-hundred day simple moving average is $23.14. The stock has a market capitalization of $2.72 billion, a PE ratio of -4.35 and a beta of 0.91. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06.

Analyst Upgrades and Downgrades

ARWR has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Citigroup cut their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Sanford C. Bernstein cut their price target 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 upped their price objective on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Chardan Capital reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 11.5% during the 3rd quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company’s stock valued at $2,401,000 after purchasing an additional 12,706 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in Arrowhead Pharmaceuticals by 3.9% in the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after acquiring an additional 333,333 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Arrowhead Pharmaceuticals during the 3rd quarter worth about $659,000. Erste Asset Management GmbH purchased a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at about $924,000. Finally, Millennium Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 61.9% in the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after purchasing an additional 202,280 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors.

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.