B.Riley FBR Remains a Buy on Arrowhead Research (ARWR)

By Austin Angelo

B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Arrowhead Research (ARWRResearch Report) today and set a price target of $19. The company’s shares closed on Friday at $15.66.

Mamtani said:

“Inc (ARWR) reported fiscal 1Q19 (calendar 4Q18) earnings results where net loss of $12.0M or $0.13 per share came meaningfully ahead of consensus of a loss of $50.9M or $0.54 per share. This beat was mainly driven by the earlier recognition of a large portion of the $175M upfront milestone payment from J&J. In addition, ARWR ended the quarter with cash in hand of $303M that allows for continued strength in execution on several wholly-owned pipeline candidates based on it’s now de-risked Targeted RNAi Molecules (TRiM) platform.”

According to TipRanks.com, Mamtani is a 3-star analyst with an average return of 3.8% and a 53.8% 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 Strong Buy analyst consensus rating for Arrowhead Research with a $23.13 average 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 $13.2 million.

Based on the recent corporate insider activity of 38 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.