In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Arrowhead Research (NASDAQ: ARWR), with a price target of $24. The company’s shares opened today at $13.87.
Piros observed:
“: We are reiterating our Overweight rating and $24 12- month PT on the company’s New York. At the event, Arrowhead discussed details from the company’s RNA- therapeutics pipeline, which utilizes the TRiM platform. With the recent partnership with Janssen (subsidiary of Arrowhead could have sufficient capital to expand its internal pipeline, with the goal of having 10 programs in the clinic by end-2020.”
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.0% and a 40.2% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arrowhead Research with a $23.75 average price target, a 71.2% upside from current levels. In a report issued on October 4, Piper Jaffray also reiterated a Buy rating on the stock with a $25 price target.
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The company has a one-year high of $22.39 and a one-year low of $3.01. Currently, Arrowhead Research has an average volume of 2.55M.
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Arrowhead Pharmaceuticals, Inc. engages as a biopharmaceutical company developing targeted RNAi therapeutics. Its pipeline includes clinical programs in chronic hepatitis B virus and partner based programs in obesity and oncology. The company was founded by R. Bruce Stewart in 1989 and is headquartered in Pasadena, CA.
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