Citigroup Cuts Arrowhead Pharmaceuticals (NASDAQ:ARWR) Price Target to $17.00

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its target price decreased by Citigroup from $21.00 to $17.00 in a report released on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the biotechnology company’s stock.

ARWR has been the topic of several other research reports. B. Riley restated a “buy” rating and set a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $42.13.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $15.34 on Tuesday. The firm’s fifty day moving average price is $13.29 and its 200-day moving average price is $17.83. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09. The stock has a market cap of $2.11 billion, a P/E ratio of -2.97 and a beta of 0.89. Arrowhead Pharmaceuticals has a fifty-two week low of $9.57 and a fifty-two week high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $2.81. The company had revenue of $542.71 million for the quarter, compared to analysts’ expectations of $116.27 million. During the same quarter last year, the business posted ($1.02) EPS. On average, equities research analysts expect that Arrowhead Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 51,425 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $15.07, for a total value of $774,974.75. Following the sale, the chief executive officer now owns 4,062,377 shares of the company’s stock, valued at $61,220,021.39. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 275,880 shares of company stock valued at $4,034,037 in the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Arrowhead Pharmaceuticals by 297.6% in the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 1,628 shares during the last quarter. R Squared Ltd bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at about $38,000. GF Fund Management CO. LTD. bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at about $49,000. Van ECK Associates Corp boosted its stake in shares of Arrowhead Pharmaceuticals by 72.3% during the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 1,250 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 134.3% during the 1st quarter. CWM LLC now owns 4,401 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 2,523 shares in the last quarter. 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.