Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Cut to $26.00 by Analysts at Citigroup

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

A number of other research analysts also recently commented on ARWR. Piper Sandler restated an “overweight” rating and issued a $62.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, October 8th. B. Riley reissued a “buy” rating and issued a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday, November 12th. Finally, Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.56.

Arrowhead Pharmaceuticals Stock Up 24.2 %

Shares of NASDAQ:ARWR opened at $26.15 on Wednesday. The firm has a fifty day moving average of $19.85 and a two-hundred day moving average of $23.16. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $39.83. The firm has a market capitalization of $3.25 billion, a P/E ratio of -5.60 and a beta of 0.93.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp raised its position in shares of Arrowhead Pharmaceuticals by 42.5% during the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 354 shares during the last quarter. Values First Advisors Inc. bought a new position in Arrowhead Pharmaceuticals during the third quarter valued at about $52,000. Meeder Asset Management Inc. raised its holdings in Arrowhead Pharmaceuticals by 4,629.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 3,333 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 worth $88,000 after acquiring an additional 788 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $96,000. 62.61% of the stock is owned by institutional investors.

About Arrowhead Pharmaceuticals

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.