Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target Cut to $45.00 by Analysts at Piper Sandler

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target decreased by Piper Sandler from $62.00 to $45.00 in a report published on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the biotechnology company’s stock.

Several other equities research analysts have also recently commented on the company. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. Finally, 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 research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.70.

Arrowhead Pharmaceuticals Stock Performance

ARWR stock opened at $26.03 on Wednesday. The stock has a market capitalization of $3.24 billion, a PE ratio of -5.19 and a beta of 0.93. The stock’s 50 day simple moving average is $20.16 and its 200 day simple moving average is $23.23. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $39.83. The company has a current ratio of 6.74, a quick ratio of 4.65 and a debt-to-equity ratio of 2.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ARWR. CANADA LIFE ASSURANCE Co increased its stake in shares of Arrowhead Pharmaceuticals by 9.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,571 shares of the biotechnology company’s stock worth $2,589,000 after purchasing an additional 8,065 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Arrowhead Pharmaceuticals by 17.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 71,136 shares of the biotechnology company’s stock worth $2,035,000 after buying an additional 10,568 shares during the period. Janus Henderson Group PLC raised its stake in shares of Arrowhead Pharmaceuticals by 21.3% in the first quarter. Janus Henderson Group PLC now owns 57,449 shares of the biotechnology company’s stock worth $1,641,000 after buying an additional 10,082 shares during the period. California State Teachers Retirement System lifted its position 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 valued at $3,503,000 after buying an additional 15,136 shares in the last quarter. Finally, Comerica Bank grew its stake 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 valued at $1,382,000 after acquiring an additional 4,855 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.