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

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target dropped by Citigroup from $27.00 to $26.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s price objective indicates a potential upside of 5.56% from the company’s current price.

A number of other research analysts also recently issued reports on ARWR. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Piper Sandler reaffirmed an “overweight” rating and set a $62.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. Finally, B. Riley reaffirmed a “buy” rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.44.

Arrowhead Pharmaceuticals Stock Up 17.0 %

NASDAQ:ARWR traded up $3.58 during mid-day trading on Wednesday, reaching $24.63. 1,651,384 shares of the stock were exchanged, compared to its average volume of 1,228,864. The company has a 50 day simple moving average of $19.82 and a 200-day simple moving average of $23.17. The stock has a market capitalization of $3.06 billion, a P/E ratio of -5.20 and a beta of 0.93. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $39.83.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds have recently modified their holdings of the business. World Investment Advisors LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 3.8% in the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 700 shares during the period. Geode Capital Management LLC raised its holdings in Arrowhead Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after purchasing an additional 26,171 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Arrowhead Pharmaceuticals during the third quarter worth $345,000. Wellington Management Group LLP raised its holdings in Arrowhead Pharmaceuticals by 1.5% during the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after purchasing an additional 886 shares during the last quarter. Finally, State Street Corp raised its holdings in Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after purchasing an additional 516,569 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.