Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Lowered to $45.00 at Piper Sandler

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price dropped by research analysts at Piper Sandler from $62.00 to $45.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price objective indicates a potential upside of 83.97% from the company’s current price.

Other research analysts have also recently issued reports about the company. Citigroup decreased their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. B. Riley restated a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. Finally, Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.56.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR traded up $3.41 during trading hours on Wednesday, hitting $24.46. The stock had a trading volume of 2,725,786 shares, compared to its average volume of 1,233,158. The business’s 50 day moving average is $19.85 and its 200-day moving average is $23.16. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -5.06 and a beta of 0.93. Arrowhead Pharmaceuticals has a one year low of $17.05 and a one year high of $39.83.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its position in 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 purchasing an additional 354 shares during the period. Values First Advisors Inc. bought a new stake in Arrowhead Pharmaceuticals during the third quarter worth $52,000. Meeder Asset Management Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after buying an additional 3,333 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 acquiring an additional 788 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $96,000. Institutional investors and hedge funds 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.