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

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective cut by equities research analysts at Piper Sandler from $62.00 to $45.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s target price would suggest a potential upside of 83.97% from the stock’s current price.

ARWR has been the subject of a number of other reports. Citigroup decreased their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday. B. Riley reaffirmed a “buy” rating and issued a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Chardan Capital restated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.56.

Arrowhead Pharmaceuticals Stock Up 16.2 %

Shares of NASDAQ:ARWR traded up $3.41 during trading on Wednesday, reaching $24.46. The stock had a trading volume of 2,725,786 shares, compared to its average volume of 1,233,158. The stock has a fifty day simple moving average of $19.85 and a two-hundred day simple moving average of $23.16. Arrowhead Pharmaceuticals has a 52 week low of $17.05 and a 52 week high of $39.83. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -5.06 and a beta of 0.93.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after buying an additional 354 shares in the last quarter. World Investment Advisors LLC raised its holdings in Arrowhead Pharmaceuticals by 3.8% during the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock worth $371,000 after purchasing an additional 700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 788 shares during the period. Arizona State Retirement System grew its position in shares of Arrowhead Pharmaceuticals by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after buying an additional 821 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of 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 buying an additional 886 shares during the last quarter. Institutional investors and hedge funds 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.