B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Arrowhead Research (ARWR) today and set a price target of $32. The company’s shares closed yesterday at $27.24.
Mamtani noted:
“Inc (ARWR) reported 3Q19 financial results and provided a number of meaningful updates to its continuously expanding pipeline, most notably the (1) disclosure of a new IND-stage drug candidate against yet another high-value, genetically de-risked target, hydroxysteroid dehydrogenase (HSD17B13); (2) Ph. II REEF-1 study initiation in 450 Hep-B patients by partner, JNJ, for ARO-HBV/JNJ-3989 as part of a triple combination regimen; and (3) ARO-APOC3 & ARO-ANG3 demonstrating early target engagement and lipid lowering effect. 3Q EPS of $0.21 came slightly below consensus expectation of $0.28 but ahead of our estimate of $0.15 driven by $42.7M recognized in form of J&J milestone revenues for the quarter (relative to our/consensus estimate of $40M/$54.4M).”
According to TipRanks.com, Mamtani is ranked 0 out of 5 stars with an average return of -16.9% and a 18.0% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arrowhead Research with a $34.50 average price target, a 26.7% upside from current levels. In a report released today, Chardan Capital also reiterated a Buy rating on the stock with a $32 price target.
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Arrowhead Research’s market cap is currently $2.58B and has a P/E ratio of 400.59. The company has a Price to Book ratio of 12.82.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is neutral on the stock. Most recently, in June 2019, Kenneth Allen Myszkowski, the CFO of ARWR bought 35,000 shares for a total of $172,800.
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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.
