Piper Sandler Issues Pessimistic Forecast for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price cut by Piper Sandler from $62.00 to $45.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other equities analysts also recently commented on the company. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Finally, Citigroup reduced 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 note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.56.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $26.15 on Wednesday. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $39.83. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -5.60 and a beta of 0.93. The stock has a fifty day moving average of $19.85 and a 200-day moving average of $23.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ARWR. Avoro Capital Advisors LLC increased its holdings in Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after purchasing an additional 333,333 shares in the last quarter. State Street Corp increased its stake in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after acquiring an additional 516,569 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Arrowhead Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after acquiring an additional 26,171 shares during the period. Bank of New York Mellon Corp boosted its stake in Arrowhead Pharmaceuticals by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after acquiring an additional 30,086 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Arrowhead Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,006,935 shares of the biotechnology company’s stock worth $19,504,000 after purchasing an additional 12,574 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

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.