B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Arrowhead Research (ARWR) today and set a price target of $46. The company’s shares closed last Monday at $29.44.
Mamtani observed:
“Pharmaceuticals, Inc. (ARWR) announced top-line Ph. I clinical results, originally presented at Dubai, demonstrating in normal healthy volunteers (NHVs) potent knockdown of plasma a polipoprotein C-III (apoC-III) and plasma angiopoietin like protein 3 (ANGPTL3) by ARO-APOC3 and ARO-ANG3, respectively. Importantly, significant reduction of triglycerides was noted with minimal safety or tolerability liability, which was sustained through week 12 suggesting durability profile enabling once every three-month or once every-six month dosing intervals.”
According to TipRanks.com, Mamtani is a 1-star analyst with an average return of -3.8% and a 36.1% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.
Arrowhead Research has an analyst consensus of Moderate Buy, with a price target consensus of $38, a 22.6% upside from current levels. In a report released yesterday, Piper Jaffray also reiterated a Buy rating on the stock with a $50 price target.
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Arrowhead Research’s market cap is currently $2.81B and has a P/E ratio of 64.90. The company has a Price to Book ratio of 12.39.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARWR in relation to earlier this year.
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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.
