Sanford C. Bernstein Has Lowered Expectations for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price target reduced by Sanford C. Bernstein from $27.00 to $24.00 in a report issued on Friday,Benzinga reports. They currently have a market perform rating on the biotechnology company’s stock.

ARWR has been the topic of several other reports. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. B. Riley reissued a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Wednesday, November 27th. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.70.

Arrowhead Pharmaceuticals Trading Down 0.5 %

Shares of NASDAQ:ARWR opened at $26.03 on Friday. The business’s 50 day simple moving average is $20.16 and its 200 day simple moving average is $23.23. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $39.83. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 4.65. The company has a market capitalization of $3.24 billion, a P/E ratio of -5.19 and a beta of 0.93.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARWR. Avoro Capital Advisors LLC grew its position in Arrowhead Pharmaceuticals by 3.9% during the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after acquiring an additional 333,333 shares during the last quarter. State Street Corp grew its holdings in shares of 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. Geode Capital Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after buying an additional 26,171 shares during the period. Bank of New York Mellon Corp raised its holdings in Arrowhead Pharmaceuticals by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock valued at $28,201,000 after buying an additional 30,086 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Arrowhead Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,006,935 shares of the biotechnology company’s stock worth $19,504,000 after buying an additional 12,574 shares during the period. 62.61% of the stock is currently 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.