Company Update (NASDAQ:ARWR): Arrowhead Research Corp Reports Fiscal 2015 Second Quarter Financial Results
Arrowhead Research Corp (NASDAQ:ARWR), a biopharmaceutical company developing targeted RNAi therapeutics, today announced financial results for its fiscal 2015 second quarter ended March 31, 2015. The company is hosting a conference call at 4:30 p.m. EDT to discuss results.
Fiscal 2015 Second Quarter and Recent Company Highlights
- Started phase 1 study of ARC-AAT, the company’s clinical candidate against liver disease associated with alpha-1 antitrypsin deficiency
- Completed dosing of Part A of the ARC-AAT phase 1 study in healthy volunteers, and transitioned the study into Part B which will enroll patients with PiZZ genotype alpha-1 antitrypsin deficiency
- Completed the acquisition of Novartis’ RNAi research and development portfolio, related licenses, and assets
- Gained clearance from the U.S. Food and Drug Administration to begin the Heparc-2004 multi-dose Phase 2b study of ARC-520
- Filed with various regulatory authorities in Europe and Asia to explore additional multi-dose studies of ARC-520 outside of the U.S.
- Completed dosing in two additional dose cohorts in the Heparc-2001, a single-dose phase 2a study of ARC-520
- Expanded Heparc-2001 to include three additional cohorts, which will be discussed on the call at 4:30 p.m. EDT
- Published data on a new construct of the Dynamic Polyconjugate delivery system that appears to have better stability and longer circulation times, which may enable subcutaneous administration and potentially extra-hepatic targeting
- Presented preclinical data on ARC-F12, a potential new candidate targeting coagulation factor 12 for the potential treatment of hereditary angioedema and thromboembolic diseases (Original Source)
Shares of Arrowhead Research closed today at $6.68, down $0.36 or 5.11%. ARWR has a 1-year high of $17.42 and a 1-year low of $4.95. The stock’s 50-day moving average is $7.18 and its 200-day moving average is $6.79.
On the ratings front, Arrowhead Research has been the subject of a number of recent research reports. In a report issued on April 14, Jefferies Co. analyst Eun Yang downgraded ARWR to Hold, with a price target of $9, which represents a potential upside of 27.8% from where the stock is currently trading. Separately, on January 22, Deutsche Bank’s Alethia Young downgraded the stock to Hold and has a price target of $7.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Eun Yang and Alethia Young have a total average return of 3.2% and 10.4% respectively. Yang has a success rate of 61.2% and is ranked #1220 out of 3596 analysts, while Young has a success rate of 50.0% and is ranked #866.
Arrowhead Research Corp is engaged in developing novel drugs to treat intractable diseases by silencing the genes. The Company’s drug candidate ARC-520 is designed to treat chronic hepatitis B infection.