Arrowhead Research Corp (NASDAQ:ARWR), a biopharmaceutical company developing targeted RNAi therapeutics, today announced that the European Medicines Agency (EMA) granted Orphan Drug Designation to ARC-AAT for treatment of congenital alpha-1 antitrypsin deficiency. ARC-AAT was also previously granted Orphan Drug Designation by the United States Food and Drug Administration (FDA) in 2015.
Orphan Drug Designation from the EMA allows Arrowhead to benefit from a number of incentives, such as reduced regulatory fees, protocol assistance, and market exclusivity, to develop a medicine for the treatment of a rare disease affecting not more than five in 10,000 people in the European Union.
“ARC-AAT has the potential to provide patients and physicians with a much needed treatment option for liver disease associated with alpha-1 antitrypsin deficiency, a rare genetic disorder. We are pleased that the EMA has granted Orphan Drug Designation and we view this as an important regulatory milestone for the program,” said Bruce Given, M.D., Arrowhead chief operating officer. (Original Source)
Shares of Arrowhead Research closed last Friday at $4.58. ARWR has a 1-year high of $9.36 and a 1-year low of $4.35. The stock’s 50-day moving average is $5.74 and its 200-day moving average is $5.91.
On the ratings front, Arrowhead Research has been the subject of a number of recent research reports. In a report issued on December 10, Zacks Small-Cap Research analyst Grant Zeng maintained a Buy rating on ARWR, with a price target of $15, which represents a potential upside of 227.5% from where the stock is currently trading. Separately, on September 25, Piper Jaffray’s Edward Tenthoff reiterated a Buy rating on the stock and has a price target of $20.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Grant Zeng and Edward Tenthoff have a total average return of -41.8% and -6.8% respectively. Zeng has a success rate of 14.3% and is ranked #3403 out of 3582 analysts, while Tenthoff has a success rate of 26.9% and is ranked #3285.
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.