Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Target Lowered at Stifel Nicolaus

Arrowhead Pharmaceuticals (NASDAQ:ARWR) had its price objective dropped by equities researchers at Stifel Nicolaus from $104.00 to $96.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus‘s price target would indicate a potential upside of 103.61% from the company’s previous close.

ARWR has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their price objective on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. 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. Piper Sandler reissued an “overweight” rating and issued a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. B. Riley Financial upped their price target on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $115.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. 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 given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $98.93.

Arrowhead Pharmaceuticals Stock Down 4.5%

Shares of Arrowhead Pharmaceuticals stock opened at $47.15 on Friday. Arrowhead Pharmaceuticals has a 1 year low of $37.06 and a 1 year high of $95.49. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of -20.96 and a beta of 1.34. The company has a 50-day moving average of $64.09 and a 200 day moving average of $71.10. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the sale, the director directly owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. This represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael S. Perry sold 11,600 shares of the firm’s stock in a transaction dated 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 sale, the director owned 111,459 shares of the company’s stock, valued at approximately $9,730,370.70. This represents a 9.43% 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ARWR. BlackRock Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals during the second quarter valued at approximately $1,208,838,000. Jupiter Topco LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the second quarter valued at approximately $99,623,000. Renaissance Technologies LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the first quarter valued at approximately $64,988,000. Bank of New York Mellon Corp purchased a new position in Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $70,061,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $50,990,000. Institutional investors own 62.61% of the company’s stock.

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.