After Cantor Fitzgerald and Chardan Capital gave Arrowhead Research (NASDAQ: ARWR) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Mayank Mamtani reiterated a Buy rating on Arrowhead Research today and set a price target of $32. The company’s shares closed on Friday at $24.04, close to its 52-week high of $24.30.
Mamtani commented:
“At our 20th annual institutional investor conference, we hosted the CEO of Arrowhead Pharmaceuticals, Dr. Christopher Anzalone. Below we highlight the key takeaways from our fireside chat. In parallel, we continue to remain optimistic with regard to the emerging safety profile of RNAi drug class with increased patient exposure, particularly in large population diseases like hypercholesterolemia as also is the case with MDCO’s inclisiran ORION program ( link); hence we increase our PT to $32 (from $26 previously) with an assumed lower risk associated with the TRiM (targeted RNAi molecule) platform that may result in any unexpected safety-related discontinuations such as liver enzyme elevations or renal adverse events.”
According to TipRanks.com, Mamtani is a 1-star analyst with an average return of -2.3% and a 46.5% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Allena Pharmaceuticals Inc.
Currently, the analyst consensus on Arrowhead Research is a Strong Buy with an average price target of $28.38.
See today’s analyst top recommended stocks >>
Arrowhead Research’s market cap is currently $2.28B and has a P/E ratio of 353.53. The company has a Price to Book ratio of 11.31.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Arrowhead Pharmaceuticals, Inc. operates as a biopharmaceutical company. It develops medicines that treat intractable diseases by silencing the genes that cause them. The company was founded by R. Bruce Stewart in 1989 and is headquartered in Pasadena, CA.
