Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Lowered to $24.00 at Sanford C. Bernstein

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective dropped by equities research analysts at Sanford C. Bernstein from $27.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the biotechnology company’s stock. Sanford C. Bernstein’s price target suggests a potential downside of 8.22% from the company’s previous close.

Several other equities research analysts also recently issued reports on ARWR. Piper Sandler dropped their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Wednesday. Citigroup dropped 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.70.

Arrowhead Pharmaceuticals Stock Up 24.2 %

Shares of Arrowhead Pharmaceuticals stock opened at $26.15 on Friday. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83. The company has a market capitalization of $3.25 billion, a PE ratio of -5.21 and a beta of 0.93. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 4.65. The business has a 50-day moving average of $20.05 and a 200-day moving average of $23.20.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ARWR. State Street Corp lifted its holdings in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after purchasing an additional 516,569 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Arrowhead Pharmaceuticals in the second quarter worth $9,976,000. Avoro Capital Advisors LLC lifted its stake in Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after buying an additional 333,333 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Arrowhead Pharmaceuticals by 232.5% during the third quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock valued at $5,677,000 after acquiring an additional 204,933 shares during the period. Finally, Millennium Management LLC grew its position in shares of Arrowhead Pharmaceuticals by 61.9% during the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after acquiring an additional 202,280 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.