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

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective trimmed by Citigroup from $27.00 to $26.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

Several other equities analysts also recently commented on the company. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. Chardan Capital restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. B. Riley reissued a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.56.

Arrowhead Pharmaceuticals Stock Up 24.2 %

Shares of ARWR opened at $26.15 on Wednesday. The company has a 50-day moving average price of $19.85 and a two-hundred day moving average price of $23.16. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -5.60 and a beta of 0.93. Arrowhead Pharmaceuticals has a 12 month low of $17.05 and a 12 month high of $39.83.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its position in 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 buying an additional 354 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at $52,000. Meeder Asset Management Inc. boosted its holdings in Arrowhead Pharmaceuticals by 4,629.2% in the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 3,333 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Arrowhead Pharmaceuticals by 21.3% in the third 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 period. Finally, nVerses Capital LLC bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth about $96,000. Institutional investors own 62.61% of the company’s stock.

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.