Sanford C. Bernstein Has Lowered Expectations for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price trimmed by Sanford C. Bernstein from $27.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a market perform rating on the biotechnology company’s stock.

ARWR has been the subject of several other reports. 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 report on Wednesday. B. Riley reissued a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Chardan Capital restated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. Piper Sandler reduced their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.70.

Arrowhead Pharmaceuticals Stock Down 0.5 %

ARWR stock opened at $26.03 on Friday. The company has a market capitalization of $3.24 billion, a P/E ratio of -5.19 and a beta of 0.93. Arrowhead Pharmaceuticals has a 12 month low of $17.05 and a 12 month high of $39.83. The firm’s fifty day simple moving average is $20.05 and its 200-day simple moving average is $23.20. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 4.65.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Fifth Third Bancorp grew its holdings 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 worth $31,000 after buying an additional 354 shares during the last quarter. World Investment Advisors LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 3.8% in the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Arrowhead Pharmaceuticals by 21.3% during the third 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 during the last quarter. Arizona State Retirement System lifted its holdings in shares of Arrowhead Pharmaceuticals by 2.4% during the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after purchasing an additional 821 shares during the period. Finally, Wellington Management Group LLP grew its position in Arrowhead Pharmaceuticals by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after buying an additional 886 shares during the last quarter. 62.61% of the stock is 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.