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

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective decreased by Piper Sandler from $62.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target points to a potential upside of 72.08% from the company’s current price.

Several other analysts have also issued reports on the company. HC Wainwright restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 20th. Chardan Capital restated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. Citigroup cut their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $42.56.

Arrowhead Pharmaceuticals Stock Up 24.2 %

Shares of ARWR stock opened at $26.15 on Wednesday. The firm has a market cap of $3.25 billion, a P/E ratio of -5.60 and a beta of 0.93. The company has a 50 day moving average of $19.95 and a 200-day moving average of $23.18. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $39.83.

Institutional Inflows and Outflows

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

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.