Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given New $26.00 Price Target at Citigroup

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price reduced by equities researchers at Citigroup from $27.00 to $26.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s price objective points to a potential upside of 5.56% from the company’s current price.

ARWR has been the subject of several other research reports. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday, November 12th. Piper Sandler reissued an “overweight” rating and set a $62.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. B. Riley reissued a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Finally, Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.44.

Arrowhead Pharmaceuticals Stock Performance

ARWR stock traded up $3.58 during midday trading on Wednesday, hitting $24.63. 1,651,384 shares of the stock were exchanged, compared to its average volume of 1,228,864. The stock’s 50-day moving average price is $19.82 and its 200-day moving average price is $23.17. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -5.20 and a beta of 0.93. Arrowhead Pharmaceuticals has a fifty-two week low of $17.05 and a fifty-two week high of $39.83.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Avoro Capital Advisors LLC grew its position in Arrowhead Pharmaceuticals by 3.9% during the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after acquiring an additional 333,333 shares during the period. Millennium Management LLC grew its position in Arrowhead Pharmaceuticals by 61.9% during the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after acquiring an additional 202,280 shares during the period. International Assets Investment Management LLC purchased a new stake in Arrowhead Pharmaceuticals during the third quarter valued at about $14,420,000. Bank of Montreal Can grew its position in Arrowhead Pharmaceuticals by 240.5% during the second quarter. Bank of Montreal Can now owns 43,699 shares of the biotechnology company’s stock valued at $1,202,000 after acquiring an additional 30,866 shares during the period. Finally, Privium Fund Management B.V. grew its position in Arrowhead Pharmaceuticals by 16.2% during the third quarter. Privium Fund Management B.V. now owns 333,356 shares of the biotechnology company’s stock valued at $6,457,000 after acquiring an additional 46,420 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.