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

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price cut by Sanford C. Bernstein from $27.00 to $24.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a market perform rating on the biotechnology company’s stock.

ARWR has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, November 20th. Piper Sandler decreased their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday. Chardan Capital reissued a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Wednesday. One investment 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, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $40.70.

Arrowhead Pharmaceuticals Stock Performance

ARWR opened at $26.03 on Friday. 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 stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -5.19 and a beta of 0.93. The company has a fifty day moving average of $20.05 and a 200 day moving average of $23.20. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $39.83.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ARWR. Price T Rowe Associates Inc. MD boosted its position in shares of Arrowhead Pharmaceuticals by 17.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 71,136 shares of the biotechnology company’s stock worth $2,035,000 after purchasing an additional 10,568 shares in the last quarter. Janus Henderson Group PLC boosted its holdings 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 worth $1,641,000 after acquiring an additional 10,082 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Arrowhead Pharmaceuticals by 14.1% in the first quarter. California State Teachers Retirement System now owns 122,486 shares of the biotechnology company’s stock worth $3,503,000 after acquiring an additional 15,136 shares in the last quarter. 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 valued at $1,382,000 after acquiring an additional 4,855 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the 1st quarter valued at approximately $269,000. 62.61% of the stock is currently owned by institutional investors.

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.