Citigroup Cuts Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target to $26.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target trimmed by Citigroup from $27.00 to $26.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the biotechnology company’s stock.

Several other analysts have also recently issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $62.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. B. Riley reissued a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $40.70.

Arrowhead Pharmaceuticals Trading Down 0.5 %

Shares of Arrowhead Pharmaceuticals stock opened at $26.03 on Wednesday. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 4.65. The stock’s 50 day simple moving average is $20.05 and its 200-day simple moving average is $23.20. The stock has a market cap of $3.24 billion, a P/E ratio of -5.19 and a beta of 0.93. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its stake in Arrowhead Pharmaceuticals by 9.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,571 shares of the biotechnology company’s stock worth $2,589,000 after acquiring an additional 8,065 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Arrowhead Pharmaceuticals by 17.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 71,136 shares of the biotechnology company’s stock worth $2,035,000 after purchasing an additional 10,568 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Arrowhead Pharmaceuticals by 21.3% in the first quarter. Janus Henderson Group PLC now owns 57,449 shares of the biotechnology company’s stock valued at $1,641,000 after purchasing an additional 10,082 shares during the period. California State Teachers Retirement System grew its holdings in shares of Arrowhead Pharmaceuticals by 14.1% in the first quarter. California State Teachers Retirement System now owns 122,486 shares of the biotechnology company’s stock valued at $3,503,000 after purchasing an additional 15,136 shares in the last quarter. Finally, Comerica Bank increased its stake in Arrowhead Pharmaceuticals by 11.2% during the 1st quarter. Comerica Bank now owns 48,312 shares of the biotechnology company’s stock worth $1,382,000 after buying an additional 4,855 shares during the period. 62.61% of the stock is currently owned by hedge funds and other 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.