Citigroup Has Lowered Expectations for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price reduced by equities research analysts at Citigroup from $27.00 to $26.00 in a research note issued on Wednesday,Benzinga reports. The firm currently 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 previous close.

Other equities analysts have also issued research reports about the company. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research note on Tuesday, November 12th. Piper Sandler reissued an “overweight” rating and set a $62.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. B. Riley restated a “buy” rating and issued a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 20th. Finally, Chardan Capital restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.56.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $26.15 on Wednesday. Arrowhead Pharmaceuticals has a one year low of $17.05 and a one year high of $39.83. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -5.60 and a beta of 0.93. The company has a fifty day moving average price of $19.95 and a two-hundred day moving average price of $23.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co boosted 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 valued at $2,589,000 after purchasing an additional 8,065 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 valued at $2,035,000 after buying an additional 10,568 shares in the last quarter. Janus Henderson Group PLC boosted its position in Arrowhead Pharmaceuticals by 21.3% in the first quarter. Janus Henderson Group PLC now owns 57,449 shares of the biotechnology company’s stock valued at $1,641,000 after buying an additional 10,082 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Arrowhead Pharmaceuticals by 14.1% during the first quarter. California State Teachers Retirement System now owns 122,486 shares of the biotechnology company’s stock worth $3,503,000 after buying an additional 15,136 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Arrowhead Pharmaceuticals by 11.2% during the first quarter. Comerica Bank now owns 48,312 shares of the biotechnology company’s stock worth $1,382,000 after buying an additional 4,855 shares in the last quarter. 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.