Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Lowered to $26.00 at Citigroup

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target decreased by analysts at Citigroup from $27.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s price objective suggests a potential downside of 0.57% from the company’s current price.

Other analysts also recently issued reports about the company. B. Riley restated a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 20th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.56.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $26.15 on Wednesday. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $39.83. The company’s 50 day moving average price is $19.95 and its two-hundred day moving average price is $23.18. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -5.60 and a beta of 0.93.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ARWR. Fifth Third Bancorp increased its stake in shares of 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 in the last quarter. Values First Advisors Inc. bought a new stake in Arrowhead Pharmaceuticals in the third quarter valued at $52,000. Meeder Asset Management Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 4,629.2% during the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 3,333 shares during the period. nVerses Capital LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth about $96,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 788 shares in the last quarter. 62.61% of the stock is currently 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.