Analyst Mani Foroohar of Leerink Partners maintained a Hold rating on Arrowhead Pharmaceuticals (ARWR – Research Report), retaining the price target of $24.00.
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Mani Foroohar’s rating is based on a blend of Arrowhead Pharmaceuticals’ current financial standing and its future potential developments. The company recently announced a significant collaboration with SRPT, receiving a substantial financial infusion, which includes both cash and equity components. This partnership is expected to support their ongoing research and development projects.
However, despite these positive developments, the company’s financial outlook remains cautious. Arrowhead has several promising projects in its pipeline, including treatments targeting myotonic dystrophy, familial chylomicronemia syndrome, and other diseases. Yet, the fruition of these projects is still several years away, with key milestones expected to be achieved by the end of 2025 and beyond. Consequently, while the company shows long-term potential, the current uncertainties and the need for further capital investments justify a Hold rating.
According to TipRanks, Foroohar is an analyst with an average return of -11.2% and a 38.59% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Moderna, Alnylam Pharma, and Arrowhead Pharmaceuticals.
In another report released yesterday, Citi also downgraded the stock to a Hold with a $21.00 price target.