Arrowhead Research (ARWR) Received its Third Buy in a Row

By Ryan Adsit

After Piper Jaffray and Cantor Fitzgerald gave Arrowhead Research (NASDAQ: ARWR) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Mayank Mamtani maintained a Buy rating on Arrowhead Research today and set a price target of $26. The company’s shares closed on Friday at $19.51.

Mamtani observed:

“Inc (ARWR) reported 2Q19 financial results and provided a number of meaningful updates to its expanding pipeline, now comprising of seven clinical-stage targeted RNAi molecules (TRiMs), of which five are wholly-owned. The company expects recent Ph. III initiation of ARO-AAT program, to be possibly followed by two additional Ph. III cardiovascular disease (CVD) programs in 2020. 1Q EPS of $0.24 came slightly ahead of our/consensus expectation $0.13/$0.1 driven by continued progress in Ph. I/ II JNJ-3989/ARO-HBV program resulting in earlier recognition of a portion of J&J milestone.”

According to TipRanks.com, Mamtani is a 2-star analyst with an average return of -0.1% and a 38.5% 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 Strong Buy, with a price target consensus of $26.88, implying a 37.8% upside from current levels. In a report issued on May 8, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $24 price target.

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Based on Arrowhead Research’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $12.04 million. In comparison, last year the company had a GAAP net loss of $14.88 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.

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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.