Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Cut to $17.00 by Analysts at Citigroup

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price reduced by Citigroup from $21.00 to $17.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

Several other equities research analysts have also commented on ARWR. Chardan Capital reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. B. Riley reissued a “buy” rating and set a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.13.

Arrowhead Pharmaceuticals Trading Up 2.9%

Shares of ARWR opened at $15.34 on Tuesday. The firm’s 50-day moving average price is $13.29 and its 200-day moving average price is $17.83. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -2.97 and a beta of 0.89. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals has a 1-year low of $9.57 and a 1-year high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, topping the consensus estimate of ($0.06) by $2.81. The business had revenue of $542.71 million for the quarter, compared to the consensus estimate of $116.27 million. During the same period in the previous year, the firm earned ($1.02) EPS. Sell-side analysts anticipate that Arrowhead Pharmaceuticals will post -2.42 EPS for the current year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 40,322 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $10.07, for a total value of $406,042.54. Following the completion of the transaction, the chief executive officer now directly owns 4,022,055 shares of the company’s stock, valued at approximately $40,502,093.85. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 275,880 shares of company stock valued at $4,034,037. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARWR. First Citizens Bank & Trust Co. purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $205,000. KBC Group NV raised its holdings in shares of Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 1,644 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 11.6% during the fourth quarter. Pacer Advisors Inc. now owns 27,918 shares of the biotechnology company’s stock valued at $525,000 after purchasing an additional 2,907 shares during the last quarter. R Squared Ltd purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $38,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Arrowhead Pharmaceuticals by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,385 shares of the biotechnology company’s stock valued at $496,000 after purchasing an additional 2,475 shares during the last quarter. 62.61% of the stock is 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.