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

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

ARWR has been the topic of a number of other reports. Citigroup cut their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday. Piper Sandler dropped their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday. B. Riley reiterated a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Finally, Chardan Capital restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals 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 stock. Based on data from MarketBeat, the company presently has an average 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. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 4.65. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83. The business’s fifty day moving average price is $20.05 and its two-hundred day moving average price is $23.20. The company has a market capitalization of $3.25 billion, a P/E ratio of -5.21 and a beta of 0.93.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Fifth Third Bancorp boosted its stake in Arrowhead Pharmaceuticals by 42.5% in the 2nd 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. acquired a new stake in Arrowhead Pharmaceuticals in the third quarter valued at approximately $52,000. Meeder Asset Management Inc. increased its position in Arrowhead Pharmaceuticals by 4,629.2% during the second 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $88,000 after buying an additional 788 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $96,000. 62.61% of the stock is owned by institutional investors.

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.