Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $45.00 Price Target at Piper Sandler

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price cut by Piper Sandler from $62.00 to $45.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Citigroup lowered their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. B. Riley reiterated a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $42.56.

Arrowhead Pharmaceuticals Trading Up 24.2 %

ARWR stock opened at $26.15 on Wednesday. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83. The business’s 50 day simple moving average is $19.85 and its 200 day simple moving average is $23.16. The firm has a market capitalization of $3.25 billion, a PE ratio of -5.60 and a beta of 0.93.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Large investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its position in shares of 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 boosted its holdings in shares of Arrowhead Pharmaceuticals by 17.4% in 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 purchasing an additional 10,568 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Arrowhead Pharmaceuticals by 21.3% in the 1st 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 last quarter. California State Teachers Retirement System raised its holdings in shares of Arrowhead Pharmaceuticals by 14.1% during the 1st quarter. California State Teachers Retirement System now owns 122,486 shares of the biotechnology company’s stock worth $3,503,000 after buying an additional 15,136 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of 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 last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.