Stifel Nicolaus Issues Pessimistic Forecast for Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective reduced by analysts at Stifel Nicolaus from $104.00 to $96.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus‘s price target indicates a potential upside of 103.61% from the company’s previous close.

A number of other research firms have also recently issued reports on ARWR. B. Riley Financial boosted their price objective on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 31st. Morgan Stanley raised their target price on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Citigroup initiated coverage on Arrowhead Pharmaceuticals in a report on Tuesday, September 8th. They set a “buy” rating and a $108.00 price target on the stock. Finally, UBS Group began coverage on Arrowhead Pharmaceuticals in a report on Thursday, October 15th. They set a “buy” rating and a $109.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.93.

Arrowhead Pharmaceuticals Trading Down 4.5%

NASDAQ:ARWR opened at $47.15 on Friday. The firm has a market capitalization of $6.64 billion, a P/E ratio of -20.96 and a beta of 1.34. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. The company has a fifty day moving average of $64.09 and a 200 day moving average of $71.10. Arrowhead Pharmaceuticals has a 52 week low of $37.06 and a 52 week high of $95.49.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Michael Perry sold 11,600 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the transaction, the director directly owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adeoye Olukotun sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the transaction, the director owned 31,600 shares of the company’s stock, valued at $2,747,936. This trade represents a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its position in shares of Arrowhead Pharmaceuticals by 243.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 201,927 shares of the biotechnology company’s stock worth $16,459,000 after acquiring an additional 143,192 shares in the last quarter. Corient Private Wealth LP purchased a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $1,313,000. Squarepoint Ops LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $20,859,000. Siren L.L.C. boosted its position in shares of Arrowhead Pharmaceuticals by 7.7% during the first quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company’s stock valued at $101,290,000 after purchasing an additional 115,000 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Arrowhead Pharmaceuticals by 661.6% during the first quarter. Empowered Funds LLC now owns 137,220 shares of the biotechnology company’s stock valued at $8,604,000 after purchasing an additional 119,202 shares in the last quarter. 62.61% of the stock is owned by institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals is a biotechnology company that develops medicines using RNA interference (RNAi), a biological process that can reduce the production of specific proteins by silencing the genes that encode them. Its proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi treatments to targeted tissues. The company’s research and development programs address a range of conditions, including liver, cardiometabolic, pulmonary and neurological diseases. Its work centers on investigational medicines and drug-development partnerships.