Sanford C. Bernstein Cuts Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target to $24.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price trimmed by Sanford C. Bernstein from $27.00 to $24.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Wednesday, November 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Piper Sandler lowered their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Citigroup cut their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. One 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. According to MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.70.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $26.03 on Friday. The firm’s 50 day moving average is $20.16 and its 200-day moving average is $23.23. The company has a quick ratio of 4.65, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The company has a market capitalization of $3.24 billion, a PE ratio of -5.19 and a beta of 0.93. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $39.83.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently modified their holdings of ARWR. Fifth Third Bancorp raised its holdings in Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 354 shares during the period. Values First Advisors Inc. bought a new position in shares of Arrowhead Pharmaceuticals during the third quarter worth approximately $52,000. Meeder Asset Management Inc. lifted its holdings in Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 3,333 shares during the last quarter. nVerses Capital LLC bought a new stake in Arrowhead Pharmaceuticals in the 2nd quarter valued at $96,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Arrowhead Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after buying an additional 788 shares in the last quarter. 62.61% of the stock is 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.