Piper Sandler Cuts Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target to $45.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target cut by Piper Sandler from $62.00 to $45.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

A number of other analysts have also recently weighed in 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 reissued an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Citigroup lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday. B. Riley reissued a “buy” rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.70.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $26.03 on Wednesday. The business’s 50-day simple moving average is $20.05 and its 200-day simple moving average is $23.20. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $39.83. 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 cap of $3.24 billion, a price-to-earnings ratio of -5.19 and a beta of 0.93.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds have recently modified their holdings of ARWR. Fifth Third Bancorp lifted its holdings in Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 354 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Arrowhead Pharmaceuticals during the third quarter worth $52,000. Meeder Asset Management Inc. increased its stake in shares of 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 buying an additional 3,333 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter valued at about $96,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 valued at $88,000 after buying an additional 788 shares during the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

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.