Citigroup Lowers Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target to $26.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target lowered by Citigroup from $27.00 to $26.00 in a research note released on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the biotechnology company’s stock.

A number of other equities research analysts have also weighed in on the stock. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. B. Riley reaffirmed a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.70.

Arrowhead Pharmaceuticals Stock Down 0.5 %

ARWR stock opened at $26.03 on Wednesday. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $39.83. The company’s 50 day moving average price is $20.05 and its 200 day moving average price is $23.20. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.65 and a current ratio of 6.74. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -5.19 and a beta of 0.93.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 354 shares during the period. World Investment Advisors LLC grew its position in Arrowhead Pharmaceuticals by 3.8% during the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock worth $371,000 after purchasing an additional 700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 788 shares during the last quarter. Arizona State Retirement System increased its stake in Arrowhead Pharmaceuticals by 2.4% in the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock valued at $901,000 after purchasing an additional 821 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Arrowhead Pharmaceuticals by 1.5% in the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after buying an additional 886 shares during the last quarter. 62.61% of the stock is 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.